Dramatic profit rises or falls are relatively uncommon in family businesses thanks to their long-term approach, but two family-controlled companies have gone against the grain this week, reporting results at the opposite ends of the spectrum.
In Europe, watchmaker Swatch Group, controlled by the Hayek family, said on 10 January that sales reached a record high of CHF7.14 billion (€5.89 billion) last year, up 21.7% at constant rates compared to 2010 figures.