232-year-old Liverpool commodities, warehousing and logistics business Henry Bath is upbeat on future prospects despite seeing annual pre-tax losses top £5m. Tony McDonough reports

Liverpool commodities, warehousing and logistics business Henry Bath is reporting a 30% surge in revenues but hefty-pre-tax losses.

However, the 232-year-old firm described the losses as “strategic” and due to increased throughput and stockholding which resulted in a higher cost of sales in the short term.

Located in Princes Dock in Liverpool Waters, Henry Bath was founded by Cornishman Henry Bath as a copper trading venture in 1794 and is one of the city’s oldest firms. It is now owned by two Hong Kong entities – CMST International and Mecuria Asset Holdings.

In its annual accounts for the 12 months to December 31, 2025, the company said revenues totalled £39m and pre-tax losses totalled £5.2m (2024: £56,000 pre-tax profit). The firm reports in US dollars and LBN has converted to sterling at current exchange rates.

Principal activity of Henry Bath, which employs more than 70 people, is the provision of warehouse and logistics services for non-ferrous metals, cocoa and coffee. It operates subsidiaries in the Netherlands, Belgium, Singapore, China and the US.

In its accounts the company said: “Revenue increased significantly during the year, reflecting the success of the initiatives aimed at increasing volumes across the group.

“While these initiatives successfully increased throughput and stockholding, they also resulted in a higher cost of sales in the short term. As a result, the overall profitability has declined from a profit before tax to a loss.

“The directors considered these additional costs to be largely strategic and reflective of market conditions.”

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During the year there was a decrease in cash of around £2.8m. This was due to payments made to secure the increase in stockholding and throughput.

“The directors and managers will continue to seek new locations and opportunities in 2026,” the firm said. “The directors are of the opinion that the group and the company results will improve with a profitable result forecast for 2026.”