A broad mix of family businesses have reported strong results, with Indian conglomerate Tata, drinks company Remy Cointreau, pen-maker Schwan-Stabilo and industrial firm Trumpf all seeing rises in sales.
In Asia, Tata, currently headed by family member and Indian business stalwart Ratan Tata, said its revenues for the year to March 2012 were $100.09 billion (€76.6 billion). The company saw a 20.1% rise in revenues to reach the $100 billion milestone for the first time.
Meanwhile, Germany’s Trumpf, which makes laser-cutting machines, also experienced a jump in sales. For the year to 30 June, revenues were up 15% to €2.33 billion.
"Trumpf benefited from the fact that a lot of customers caught up on investments that had been postponed during the recession," said company president and family member Nicola Leibinger-Kammuller at a press conference last week.
However, she also warned that ongoing instability in the eurozone has left some customers nervous about making investments. "Despite this, we are continuing to aim for growth in the new fiscal year, since we are well-positioned in the markets that count," added Leibinger-Kammuller.
Things were also looking bright for highlighter-maker Schwan-Stabilo, which saw its revenues hit the half-billion mark for the first time. The German company reported sales of €503 million for the year to 30 June, up from €462 the year earlier. The business, which has interests in cosmetics, stationary and outdoor equipment, is controlled by the Schwanhausser family.
In France, Remy Cointreau's sales for the six months to 30 September were €595.8 million, up 25.5% on the same period last year. This includes one month of sales from the Bruichladdich Distillery – which Remy Cointreau, controlled by the Heriard Dubreuil and Cointreau families, acquired earlier this year.
Fellow French company LVMH, of which Bernard Arnault and his family are the biggest shareholders, also saw a rise in sales recently, albeit marginally. Revenues rose to €6.9 billion during the third quarter, up 6% but below many analysts' expectations.