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The chief executive of a Knowsley-based speciality compounds manufacturer has spoken to Insider about plans to expand the business’ global operations, and added that he is “optimistic” for growth, despite a number of challenges within the manufacturing sector.
Colloids, which is based at Knowsley Industrial Park North, manufacturers and sells chemical pigment dispersions for the plastics industries.
For the year ending 31 December 2022, turnover increased from £66.5m to £80.2m, while pre-tax profit dipped from £7.9m to £6.9m.
Speaking to Insider, Russell Livesey described the year as “one of two halves”, explaining that H1 was “reasonably strong” despite steep price inflation and supply chain issues, however in China, trading was halted by a three-month lockdown.
“The second half of last year in the UK was quite challenging, which has continued into the beginning of this year, but we are positive of the outlook because we are still making good profits”, he added.
During the period, the company snapped up Performance Masterbatches Limited and strategically acquired P.W. Hall Limited – both of which have contributed to an increase in sales.
In the coming years, Livesey said that the business will drive more investment into P.W. Hall with plans to “expand it globally and open up further platforms”.
He said: “Our business model is to have something in Europe, something in Asia and something in the US.”
To support this, Colloids is currently creating a second Chinese factory and has established Colloids Inc. which is based in Texas.
Closer to home, the business is strengthening its Knowsley operations with a new lab.
“This financial year we will see growth in all of our business divisions we believe in revenue and optimistic that we will be able to retain similar levels of profitability”, concluded Livesey.
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