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