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April 28, 2012

Ford Motor Company, the US carmaker controlled by the founding Ford family, saw its profits plummet during the first three months of 2012, while three other family businesses have posted strong quarterly results. 

Ford Motor Company, the US carmaker controlled by the founding Ford family, saw its profits plummet during the first three months of 2012, while three other family businesses have posted strong quarterly results.

April 26, 2012

Ermenegildo Zegna, the Italian fashion house controlled by the founding Zegna family, saw its profits almost double in 2011, while three other family businesses in Europe have reported mixed quarterly results.

Ermenegildo Zegna, the Italian fashion house controlled by the founding Zegna family, saw its profits almost double in 2011, while three other family businesses in Europe have reported mixed quarterly results.

Piedmont-based Ermenegildo Zegna, chaired by fourth-generation Paolo Zegna, said on 25 April that net profit jumped 91.5% in 2011 to €115 million. Revenues at the company, which was founded in 1910 as a weaving business, also grew by 17% to €1.13 billion.

April 24, 2012

Much of Europe might be experiencing austerity, but some family businesses are reporting strong growth.

Much of Europe might be experiencing austerity, but some family businesses are reporting strong growth.

A German family-owned pharmaceutical company, Boehringer Ingelheim, said on 24 April that revenues for 2011 rose by 6.2% to €13.2 billion.

Much of this growth was due to the sale of prescription medicines, which accounted for 77% of total turnover, said the Ingelheim-based group.

April 18, 2012

Pick n Pay, the South African retailer controlled by the Ackerman family, has posted a drop in its full-year profits, while two family businesses in Europe have seen their revenues increase in the first quarter of 2012.

Pick n Pay, the South African retailer controlled by the Ackerman family, has posted a drop in its full-year profits, while two family businesses in Europe have seen their revenues increase in the first quarter of 2012.

Johannesburg-based Pick n Pay said on 18 April that EBITDA fell by 4.2% to 2.07 billion South African rand (€202 million) for the year to 29 February, from 2.16 billion South African rand the previous year.

April 17, 2012

Family-owned machinery giant JCB has reported its best ever annual results, while a number of family businesses in Europe and Asia have seen their revenues increase in the first months of 2012.

Family-owned machinery giant JCB has reported its best ever annual results, while a number of family businesses in Europe and Asia have seen their revenues increase in the first months of 2012.

JCB, the British construction equipment manufacturer controlled by the Bamford family, said on 17 April that revenues jumped 37% in 2011 to £2.75 billion (€3.34 billion), from £2 billion in 2010. This was the company’s strongest result in its 66-year history.

April 12, 2012

Despite tough market conditions, three family businesses from different parts of the world have posted relatively strong quarterly and annual results this week.

Despite tough market conditions, three family businesses from different parts of the world have posted relatively strong quarterly and annual results this week.

European pharmaceutical giant Roche, controlled by the founding family, saw sales for the first quarter of 2012 fall by 1% to CHF11 billion (€9.15 billion) due to the strength of the Swiss franc. However, revenues at constant exchange rate rose by 2%, the Basel-based company said on 12 April.

April 3, 2012

It’s been a good year for three European family businesses – Italian fashion group Prada and Turkish conglomerate Sabanci Holding both posted double-digit growth, while Folli Follie in Greece saw its profits rise despite the country’s “severe recession”.

It’s been a good year for three European family businesses – Italian fashion group Prada and Turkish conglomerate Sabanci Holding both posted double-digit growth, while Folli Follie in Greece saw its profits rise despite the country’s “severe recession”.

Milan-based Prada, which was founded in 1913 by brothers Mario and Martino Prada, said on 29 March that EBITDA jumped 41.7% in 2011 to €759.3 million, from €535.9 million the previous year.

March 29, 2012

Hennes & Mauritz, the fashion retailer controlled by the Persson family, posted strong quarterly results this week, while three other European family businesses saw their annual profits drop.

Hennes & Mauritz, the fashion retailer controlled by the Persson family, posted strong quarterly results this week, while three other European family businesses saw their annual profits drop.

Sales at H&M were up 13.6% to SEK27.83 billion (€3.14 billion) in the three months to the end of February 2012, from SEK24.5 billion during the same period last year, the company said on 29 March.

March 27, 2012

Two European family businesses have posted poor financial results following “another difficult year”, but Li & Fung, a family-controlled trading group in Asia, has fared better.

Two European family businesses have posted poor financial results following “another difficult year”, but Li & Fung, a family-controlled trading group in Asia, has fared better.

In the UK, family-controlled Wates Group said on 26 March that revenues rose by 13% to £1.12 billion (€1.34 billion) in 2011.

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