Bulk liquid storage specialist UM Terminals invests ‘millions’ into its Port of Liverpool facility as its latest accounts show a sharp fall in profits. Tony McDonough reports

Bulk liquid storage specialist UM Terminals has announced a multi-million pound investment at its Port of Liverpool terminal.

This announcement comes following the publication of its annual accounts on Companies House for the year to July 31, 2023. They reveal a 17% surge in revenues to £13.8m but a sharp fall in pre-tax profits from almost £2m in the previous year to £887,000.

UM, which has its head office in Regent Road at the Port of Liverpool and is owned by Belfast-based United Molasses Group, blamed a rise in operating costs for the profits fall.

It said this was partially due to an impairment charge of £1.1m on fixed assets at its Birkenhead site disposed of after the accounting period.

Investment at Regent Road forms part of UM Terminals’ strategic growth plan to ensure the breadth of product expertise, bulk liquid storage capability, value-add services and sustainability credentials remain “industry-leading”.

This was also an important part of the onboarding of new customers, ensuring that the business was able to meet their specific requirements. A number of tanks at Regent Road have been upgraded to keep up with the demand for storage in the Liverpool area.

One major enhancement at Regent Road has seen the introduction of dual dock loading with customers now able to load and discharge cargo at Huskisson Dock and Canada Dock, reducing delays due to congested shipping berths.

UM, which employs more than 50 people, added the investment had also supported its expansion into a broader range of products. These now include chemicals, industrial oils, vegetable oils, fertiliser and key growth areas of biofuels and biofuel feedstocks.

And the company is also under way in transferring across to low carbon tank heating technology, part of its wider sustainability strategy.

This investment includes the introduction of industrial ground and water source heat pumps to support the reduction in its carbon footprint in line with various UK and international requirements.

Phil McEvoy, managing director of UM Terminals, said: “Regent Road is a key strategic terminal and this multi-million pound investment will ensure that it will continue to meet and exceed the expectations of existing and new customers.

“We talk a lot about how we are willing to invest in the right opportunities to ensure the facilities and services we provide match our customers’ requirements.

“We pride ourselves on the quick turnaround from customer enquiry to product in tank, finding the right solutions to meet their varied logistical challenges.

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“This significant investment at Regent Road covers four key bases – meeting the needs of our customers, including new ones we are onboarding, ensuring our capabilities are the best they can be, having the right capacity and meeting our sustainability obligations.”

UM Terminals currently has a limited amount of storage available at Regent Road. It has six further terminals located in Liverpool, Hull and Portbury, all strategically located to meet the needs of its customers.