Princes posts 7% revenue rise and 62% profit jump despite inflation
Princes reported a 7% increase in half-year revenue to £999.4 million and a 62% rise in pre-tax profit, helped by recent acquisitions and price adjustments.
Princes, the London-listed producer of tinned tuna and brands like Napolina and Crisp ‘N’ Dry, announced that its half-year revenue reached £999.4 million, a 7% rise compared with the same period last year. The growth stemmed from recent acquisition activity, notably the purchase of Italian baby-food company Plasmod and the integration of Princes France, which bolstered sales volumes in the fish segment despite lower raw tuna prices.
Pre-tax profit surged to £39.2 million, marking a 62% increase, and the firm is targeting a further £2 million of cost efficiencies. Interim boss Giuseppe Mastrolia said the company has managed to protect profitability through disciplined commercial management despite “significant inflationary pressures”. He added that inflation-linked price hikes taking effect in July should support continued revenue growth, and the group remains confident about meeting its 2026 outlook.
Why it matters
The results show how a major food producer can grow earnings despite rising input costs and inflation.
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