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Family business roundup: Samsung, America Movil, PPR and Pernod Ricard post good results, while Paccar sees a fall

Family businesses around the world have reported mixed quarterly figures, with Samsung and America Movil seeing rises in sales and profits, while Paccar has witnessed a fall in revenues.

Family businesses around the world have reported mixed quarterly figures, with Samsung and America Movil seeing rises in sales and profits, while Paccar has witnessed a fall in revenues.

Samsung Electronics, which is the world’s biggest technology company by sales, had a record-breaking third quarter with operating profit reaching an all-time high of 8.12 trillion won (€5.74 billion) – up 91% on the same period last year – while revenues hit 52.18 trillion won, a 26% increase.

The South Korean conglomerate, controlled by the Lee family, put the strong results down to increased sales of its Galaxy range of smartphones.

America Movil, the biggest mobile phone carrier in Latin America, also saw its revenues increase by 4.5% to 193 billion Mexican pesos (€11.5 billion). Net income at the group, controlled by billionaire Carlos Slim, jumped 67% to 30.6 billion pesos from 18.3 billion Mexican pesos a year earlier.

Meanwhile, Canadian media company Shaw Communications, controlled by the eponymous family, reported a slight rise in revenues during its fourth quarter, to Can$1.21 billion (€938 million) from Can$1.18 billion, although net income fell 20% to Can$133 million. Revenues for the full year were almost Can$5 billion, up 5.4%.

American truck-maker Paccar also saw a fall in its profits for the third quarter, dropping from $281.6 million (€218.4 million) to $233.6 million, while revenues decreased by 1.8% to $3.82 billion compared to $4.26 billion during the same period last year. Family member Mark Pigott, the company’s chief executive and chairman, blamed the fall on a decrease in truck orders.

The results for the quarter, however, were offset by a good start to the year. Overall, sales for the first nine months were $13.05 billion, up 13%, while operating profits increased by 20% to $858.1 million.

In Europe, the Pinault family's PPR, the luxury and retail group that owns brands such as Gucci, Puma and Yves Saint Laurent, reported revenues of €2.56 billion for its third quarter, up from €2.2 billion during the same period last year.

Elsewhere in France, Pernod Ricard, which is the world’s second-biggest distiller by revenue, posted an 11% rise in sales for the first three months of the financial year. Revenues at the family-owned firm, whose patriarch Patrick Ricard died in August, rose to €2.2 billion from €1.98 billion for the same three-month period in 2011. 

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