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July 20, 2012

It has been a week of ups and downs for family businesses around the world, with some seeing a significant growth in revenues and others witnessing a decline.

It has been a week of ups and downs for family businesses around the world, with some seeing a significant growth in revenues and others witnessing a decline.

Luxury goods-maker Hermes, famous for its silk scarves and Birkin bags, said on 19 July that sales for the quarter ending June 2012 increased by around 22% to €814.5 million.

July 3, 2012

Some of the largest and most famous family businesses in the world, such as Canada’s Empire Company, Hong Kong’s Chow Tai Fook and the Rothschild family’s Paris Orleans, reported vastly contrasting results in the last week.

Some of the largest and most famous family businesses in the world, such as Canada’s Empire Company, Hong Kong’s Chow Tai Fook and the Rothschild family’s Paris Orleans, reported vastly contrasting results in the last week.

Empire Company, the holding group controlled by the Sobey family, said on 28 June that sales rose to $16.25 billion (€12.91 billion) for the year ending 5 May 2012, up from around $15.9 billion the previous fiscal year.

June 19, 2012

It may be a difficult period for the European economy, but three family businesses in the region have reported strong results – British conglomerate Bibby Line Group saw its annual profit rise by more than 50%, while rival fashion retailers Inditex and H&M posted strong quarterly results.

It may be a difficult period for the European economy, but three family businesses in the region have reported strong results – British conglomerate Bibby Line Group saw its annual profit rise by more than 50%, while rival fashion retailers Inditex and H&M posted strong quarterly results.

June 12, 2012

Crisis or no crisis, French family-controlled drinks-maker Remy Cointreau has reported annual revenues of more than €1 billion for the first time in its history, while luxury goods group Prada has seen net income for the first quarter shoot up by more than 100%.

Crisis or no crisis, French family-controlled drinks-maker Remy Cointreau has reported annual revenues of more than €1 billion for the first time in its history, while luxury goods group Prada has seen net income for the first quarter shoot up by more than 100%.

Paris-based Remy Cointreau, behind brands such as Remy Martin cognac and Mount Gay rum, said preliminary sales for the year ending 31 March rose by 13% to €1.02 billion. It had a turnover of €907.8 million in the previous fiscal year.

June 1, 2012

It’s been a week of big changes in family businesses, with Hermes announcing a new chief executive, Fiat Industrial proposing a merger with CNH and Bombardier hinting at a possible listing in New York.

It’s been a week of big changes in family businesses, with Hermes announcing a new chief executive, Fiat Industrial proposing a merger with CNH and Bombardier hinting at a possible listing in New York. 

Fiat Industrial, controlled by the Italian Agnelli family, said on 30 May that it wanted to “simplify the existing shareholding structure”, merging with CNH and listing the new company in New York, with a secondary listing in Europe. Fiat Industrial is currently headquartered in Turin.

May 24, 2012

At a time when the eurozone crisis shows no sign of abating, family businesses such as America Movil, Prada and LVMH are giving mixed signals about their expansion plans.

At a time when the eurozone crisis shows no sign of abating, family businesses such as America Movil, Prada and LVMH are giving mixed signals about their expansion plans.

According to Carlos Slim Domit, co-chairman of Mexican telecommunications group America Movil, now is a "good moment" to invest in Europe because of the continent's ongoing debt crisis.

May 17, 2012

Family businesses in the luxury sector have once again defied the wider economic gloom with Swiss group Richemont posting a 50% rise in profits, while a number of European firms in other sectors have had a difficult first quarter.

Family businesses in the luxury sector have once again defied the wider economic gloom with Swiss group Richemont posting a 50% rise in profits, while a number of European firms in other sectors have had a difficult first quarter.

Rupert family-controlled Richemont, which owns luxury brands such as Cartier and Piaget, said on 16 May that operating profits for the year ending 31 March increased by 51% to €2.04 billion.

May 15, 2012

From Campari to Ferragamo, a number of family businesses across the world have seen their revenues grow during the first quarter of the year, while Canadian train and plane maker Bombardier has seen its sales nosedive. 

From Campari to Ferragamo, a number of family businesses across the world have seen their revenues grow during the first quarter of the year, while Canadian train and plane maker Bombardier has seen its sales nosedive.

In Italy, drinks company Campari, which is controlled by the Garavoglia family, said on 15 May that sales increased by 4% to €279.3 million during the first three months of 2012. Pre-tax profit at the Milan-based group also rose by 4.6% to €52.8 million during the quarter.

May 9, 2012

Three family businesses in Europe and Brazil have reported strong quarterly results this week, while Italian media conglomerate Mediaset and Japanese carmaker Toyota have seen their profits plummet.

Three family businesses in Europe and Brazil have reported strong quarterly results this week, while Italian media conglomerate Mediaset and Japanese carmaker Toyota have seen their profits plummet.

In Germany, Henkel, the consumer goods company controlled by the eponymous family, said on 9 May that net profit increased by 30.3% to €378 million during the first quarter of the year, from €290 million during the same period last year.

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