In the year to 30th September 2023, Molson Group turnover grew by 18% to 拢338.0m (2022: 拢285.8m) thanks to recent acquisitions in the USA.
The turnover of the UK business fell by 拢11.5m to 拢251.7m.
Molson is part owned by BFG, a private equity firm controlled by UK high street banks. Expanding into the USA, Molson acquired 85% of Powerscreen of California in April 2022 for 拢14m and in October 2022 added Powerscreen of Washington (Washington state, that is, not DC) for 拢31m. On 31st August 2023 it then also bought Arizona-based Powerscreen Western for 拢2m. All three business are distributors of Terex Powerscreen crushing and screening machinery.
In the 2023 financial year operating profit increased marginally to 拢15.9m (2022: 拢15.7m but pre-tax profit slipped to 拢8.1m (2022: 拢13.0m) due to a substantial increase in interest repayments.
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