Newspaper article from our research archive:

BM still suffering from buying spree

HALF-YEAR results published yesterday by the engineer BM Group were once again scarred by fallout from the company's aggressive acquisition-led growth strategy in the late 1980s and early 1990s, writes Robert Cole.

Taxable losses for the six months to 31 December were pounds 14.1m. Included in the loss was a pounds 6m charge to reorganise Canadian businesses ready for sale and a pounds 13m write-off of goodwill relating to companies BM has already sold.

A clear picture began to emerge yesterday of why the former stock market star fell from grace two years ago. The distribution business of Blackwood Hodge, acquired by BM ...

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