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Tinned tuna maker Princes reported increased sales and profits despite inflationary pressures, with revenues growing by 7% to £999.4 million for the first half of 2023. The company attributes its performance to recent acquisitions and cost efficiencies, projecting further revenue growth due to inflation-linked price increases that took effect in July. Pre-tax profits rose by 62% to £39.2 million compared to the same period last year.
Written by the local model on 2026-09-15,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
Tinned tuna maker Princes reported higher sales and stronger profits despite significant inflationary pressures, driven by recent acquisitions. The company's revenues grew by 7% to £999.4 million for the first half of 2023, compared to the same period in 2022. Interim CEO Giuseppe Mastrolia highlighted Princes' resilience and profitability through disciplined management and operational efficiency. The company's fish business saw growing sales volumes but was affected by lower raw tuna prices. Princes expects further revenue growth due to inflation-linked price increases that took effect starting July, positioning the firm well for the remainder of 2023. Pre-tax profits also rose by 62% to £39.2 million in comparison to the previous year.
Written for “Princes Sales Growth Amid Inflation” on 2026-09-17,
grounded in this article and the 0 other(s) covering the same event.
Why this leaning score
This article does not take a side on a contested political
question, so it has no leaning score. That is an
answer rather than a gap: a match report or a rescue can be warmly
or critically written without being left or right, and scoring it
anyway is how approval of a subject gets recorded as a political
position.
No political leaning scored for article 10344 · logged 2026-09-15
Princes sales lift on takeover deals despite ‘inflationary pressures’
asserted
sales → lift → pressures
Tinned tuna maker Princes has revealed stronger sales in the face of “significant inflationary pressures” amid a boost from recent acquisitions.
asserted
Princes → reveal → acquisitions
The food group, which also makes the Napolina and Crisp ‘N’ Dry brands, also revealed a jump in profits for the first half of the year.
asserted
which → make → year
Recently appointed interim boss Giuseppe Mastrolia said he was “pleased” with the performance.
asserted
he → appoint → performance
London-listed Princes revealed that revenues grew by 7% to £999.4 million for the six months to June 30, compared with a year earlier.
asserted
revenues → list → June
It said revenue growth strengthened over the second quarter of the year.
asserted
growth → say → year
Princes said its fish business reported growing sales volumes but was impacted by lower raw tuna prices.
asserted
business → say → prices
It added that the first half was also impacted by the timing of inflation-linked price increases, which largely came into effect at the start of July and are therefore likely to support further revenue growth.
asserted
which → add → growth
The company said it is “well positioned” for the rest of the year and expects to trade in line with management expectations for 2026 as a whole.
asserted
it → say → whole
Meanwhile, pre-tax profits increased by 62% to £39.2 million compared with a year earlier.
asserted
profits → increase → million
Princes also confirmed it is targeting a further £2 million of cost efficiencies.
asserted
it → confirm → efficiencies
Mr Mastrolia said: “Against a challenging macroeconomic backdrop and significant inflationary pressures across a number of our key input costs, we have demonstrated the resilience of our business model and, importantly, our ability to protect profitability through disciplined commercial management and continued focus on operational efficiency.
asserted
we → say → efficiency
“We enter the second half with a clear plan and a strong sense of urgency.
asserted
We → enter → urgency
“There is considerably more value to unlock across Princes and I am confident in our ability to deliver it.”
asserted
I → be → it
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