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financial results

August 27, 2010

Fairfax Media, the Sydney-based publishing and broadcasting company, announced a return to profit in the last year when it released its financial results on 27 August.

Fairfax Media, the Sydney-based publishing and broadcasting company, announced a return to profit in the last year when it released its financial results on 27 August.

Fairfax made a profit after tax of AUD$282 million (€197 million) for the year ending June 2010, compared with a loss of AUD$380 million for the same period in 2009. The company also said it has reduced its net debt by AUD$347 million.

August 25, 2010

Heineken NV, the family-owned brewer, announced a higher than expected rise in first half net profits on 25 August despite a decrease in beer volume sales.

Heineken NV, the family-owned brewer, announced a higher than expected rise in first half net profits on 25 August despite a decrease in beer volume sales.

The world's third-largest brewer said net profits had increased 17% to €621 million compared with the first half of 2009, but it saw been volume sales fall by 2.3%. According to Heineken, the increase in profits is due to strong growth in Africa, Asia and Latin America, successful cost cutting measures and the integration of Mexican beer business FEMSA.

August 25, 2010

US bookstore group Barnes and Noble is unlikely to have fended off activist shareholder Ron Burkle, who is attempting to wrestle control of the family-controlled business, following the release of its end of quarter results on Tuesday.

US bookstore group Barnes and Noble is unlikely to have fended off activist shareholder Ron Burkle, who is attempting to wrestle control of the family-controlled business, following the release of its end of quarter results on Tuesday.

The company reported a net loss of $63 million for the quarter ending 31 July, despite total sales increasing by 21% to $1.4 billion, compared with the same period last year.

Shareholders weren't impressed, with the stock price in the New York-based group falling 2.2% to $14.66.

August 20, 2010

India-based Essar Energy, a subsidiary of family-owned Essar Group, released half-year results showing a profit before tax of $154.4million, a decrease from $233.6million in the same period a year ago.

India-based Essar Energy, a subsidiary of family-owned Essar Group, released half-year results showing a profit before tax of $154.4million, a decrease from $233.6million in the same period a year ago.
 
However, second-generation Prashant Ruia, vice chairman of Essar Energy, said: "In terms of the actual results of the company we have been more or less in line with our projections. On the refining side, production has totalled 7.2 billion tonnes which has been a record."
 

August 18, 2010

Cargill, the world’s largest agribusiness company, more than doubled its fourth quarter net earnings compared to the same period in 2009, but still saw an overall decline in annual revenues.

Cargill, the world's largest agribusiness company, more than doubled its fourth quarter net earnings compared to the same period in 2009, but still saw an overall decline in annual revenues. 

August 11, 2010

Six months ago Toyota chairman Akio Toyoda looked like he would have to do the corporate equivalent of hari kari, writes Marc Smith.

Six months ago Toyota chairman Akio Toyoda looked like he would have to do the corporate equivalent of hari kari, writes Marc Smith. 

The car company he leads was reeling after a series of scandals, including a range of lawsuits filed following the global recall of more than 8.5 million vehicles in the last 12 months. Toyota had also posted its first financial loss in 59 years on his watch.

August 11, 2010

Times are better for family businesses. Those reporting their first half results are notching up much-improved profits after the dark days of 2009, when many were losing money

Times are better for family businesses.
 
Those reporting their first half results are notching up much-improved profits after the dark days of 2009, when many were losing money. But few think a return to profits mean the good times are here to stay.
 
Recovery for family-controlled businesses has touched most sectors. Businesses in the retail, manufacturing, media and food and drink sectors are seeing strong rebounds.
 

August 9, 2010

Campari, the famous Italian drink, may be celebrating its 150th birthday this year, but it is an American bourbon less than half its age that is driving sales at family-controlled Davide Campari-Milano.

Campari, the famous Italian drink, may be celebrating its 150th birthday this year, but it is an American bourbon less than half its age that is driving sales at family-controlled Davide Campari-Milano.

The Italy-based business purchased the Wild Turkey brand, established in 1940, from fellow family-controlled manufacturer Pernod Ricard last year for €433 million.

According to results for H1 2010, group sales were up 16.7% to €515.7 million. Net profit rose 13.6% to €69.3 million.

August 6, 2010

Hugh Hefner’s efforts to take full control of Playboy Enterprises Inc were buoyed by the latest results of the Chicago-based publishing company.

Hugh Hefner's efforts to take full control of Playboy Enterprises Inc were buoyed by the latest results of the Chicago-based publishing company.

Although revenues at Playboy dropped from $62 million for Q2 2009 to $56 million for the same period this year, net losses shrunk to $5.4 million from $8.7 million in 2009. The company's improved financial position was helped by the closing of the New York office and job cuts.

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