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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.

May 5, 2012

It’s been a good week for family businesses in North America and Europe, with Estee Lauder, Hyatt Hotels, Hermes and Asklepios Group seeing their revenues increase. 

It’s been a good week for family businesses in North America and Europe, with Estee Lauder, Hyatt Hotels, Hermes and Asklepios Group seeing their revenues increase.

Cosmetic giant Estee Lauder said on 4 May that sales grew by 4% to $2.25 billion (€1.9 billion) during its third fiscal quarter, which ended on 31 March. Net profit at the New York-based company, controlled by the founding Lauder family, rose by 5% to $130.4 million, from $124.7 million during the same quarter last year.

May 3, 2012

A number of family businesses from around the world have gone against the trend of slowed growth, by posting rises in revenues.

A number of family businesses from around the world have gone against the trend of slowed growth, by posting rises in revenues.

Among these is German carmaker BMW, controlled by the Quandt family. On 3 May, the group said it had its “best first-quarter figures ever” in its 100-plus-year history. Revenues rose by 14% to €18.3 billion, up from around €16 billion for the same period last year.

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