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March 15, 2012

Family businesses such as Power Corporation of Canada, Hennes & Mauritz and Zodiac have not just had a good 2011 but also a positive beginning to 2012.

Family businesses such as Power Corporation of Canada, Hennes & Mauritz and Zodiac have not just had a good 2011 but also a positive beginning to 2012.

Montreal-based Power Corporation of Canada, the financial services and communication company controlled by the Desmarais family, said revenues for fiscal 2011 rose to CAD$32.9 billion (€25.3 billion), up from CAD$32.8 billion the year before.

March 14, 2012

Be it in North America, South America or Europe, a number of family businesses have cemented their positions this week by reporting positive results for fiscal 2011.

Be it in North America, South America or Europe, a number of family businesses have cemented their positions this week by reporting positive results for fiscal 2011.

Chilean mining company Antofagasta, controlled by the Luksic family, said on 13 March that preliminary sales for full-year 2011 rose to $6.07 billion (€4.64 billion), up from $4.57 billion the year before.

March 13, 2012

Asian countries have been growing faster than their European counterparts recently. Yet the reverse was seen in the family business sector this week, when five family firms in Europe posted strong results, while one Asian shipping company saw its profits drop by more than 80%.

Asian countries have been growing faster than their European counterparts recently. Yet the reverse was seen in the family business sector this week, when five family firms in Europe posted strong results, while one Asian shipping company saw its profits drop by more than 80%.

March 9, 2012

Buoyant results have made it a good week for some of the world’s biggest family businesses, except for one Argentinian food group which saw its profits drop by almost a third.  

Buoyant results have made it a good week for some of the world’s biggest family businesses, except for one Argentinian food group which saw its profits drop by almost a third.

Anheuser-Busch InBev, Belgium’s brewing giant controlled by the Lemann and De Spoelberch families, said on 8 March that revenues grew by 4.6% in 2011 to $39.05 billion (€29.53 billion), from $36.3 billion in 2010.

March 7, 2012

Portuguese family business Jeronimo Martins posted strong results this week, while Italian energy group ERG and British retailer Matalan reported large falls in profits.

Portuguese family business Jeronimo Martins posted strong results this week, while Italian energy group ERG and British retailer Matalan reported large falls in profits.

Jeronimo Martins, the food retailer controlled by the Dos Santos family, said revenues jumped 13.2% in 2011 to €9.84 billion, from €8.69 billion in 2010.

In a statement released on 7 March, the Lisbon-based group added that net profit for 2011 was €340 million, compared to €281 million in 2010 – a 21.1% increase.

March 2, 2012

It’s been a challenging year for two of Canada’s biggest family businesses, with plane and train maker Bombardier and food giant George Weston struggling to achieve strong profit rises.

It’s been a challenging year for two of Canada’s biggest family businesses, with plane and train maker Bombardier and food giant George Weston struggling to achieve strong profit rises.

Although Bombardier said on 1 March that net profit rose by 8% in 2011 to $837 million (€634.5 million), the Montreal-based group saw its fourth quarter net profits drop by 27.5% to $214 million, from $295 million in 2010.

February 29, 2012

Family businesses Bouygues, Luxottica and Sun Hung Kai Properties each announced positive financial results yesterday, but French industrial conglomerate Bouygues warned that increased competition could hit its telecoms division in 2012.

Family businesses Bouygues, Luxottica and Sun Hung Kai Properties each announced positive financial results yesterday, but French industrial conglomerate Bouygues warned that increased competition could hit its telecoms division in 2012.

In a statement released on 28 February, the Paris-based company, which is 29.6% controlled by the Bouygues family, said revenues increased by 5% in 2011 to €32.7 billion, from €31.2 billion in 2010.

February 28, 2012

It’s been a good week for three of Europe’s biggest family businesses, although Denmark’s Moller-Maersk Group has been hit by “voltatile markets”.

It’s been a good week for three of Europe’s biggest family businesses, although Denmark’s Moller-Maersk Group has been hit by “voltatile markets”.

German carmaker Volkswagen said revenues jumped 25.6% to €159.34 billion in 2011, from €126.88 billion in 2010.

February 27, 2012

Global volatility looks to be taking its toll on European family-run companies Merck and Fiat, which are respectively cutting jobs and considering closing plants to improve margins.

Global volatility looks to be taking its toll on European family-run companies Merck and Fiat, which are respectively cutting jobs and considering closing plants to improve margins.

German family business Merck, which operates in the pharmaceutical industry, plans to reduce its workforce “across all businesses and regions”, according to a statement.

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