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Family business roundup: Sales up at Campari and Ferragamo

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.

On 14 May, fellow family-controlled Ferragamo also reported strong financial results for the three months to 31 March. The Florence-based fashion group, which is chaired by family member Ferruccio Ferragamo, saw its pre-tax profit jump by 78.6% to €29 million during the quarter, while revenues grew by 23.4% to €259.6 million.

Also in Italy, car designer Pininfarina said on 11 May that it expects to post a profit in 2012. This would be the first time the company, which is controlled by the eponymous family and is behind the design of cars such as the Ferrari Testarossa and the Maserati GranTurismo, will report a profit since 2004.

Last week, two family businesses operating in the media industry also reported increased sales. News Corporation, controlled by the Murdochs, saw its revenues grow by 2% in its third quarter to 31 March, while Germany-based Bertelsmann, which is controlled by the Mohn family, posted a 5% rose in its sales during the first three months of 2012.

However, Canadian family business Bombardier posted a 25.5% decrease in its revenues. The group, which is controlled by the Bombardier-Beaudoin family, delivered 37 aircraft during the quarter, compared to 61 for the corresponding period in 2011. 

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