Tinned tuna maker Princes has indicated it could hike prices as the conflict in the Middle East threatens to drive business costs higher.<\/p>\n
The food firm, which also makes the Napolina and Crisp \u2018N\u2019 Dry brands, said it is seeing \u201crenewed inflationary pressures\u201d in its transport and logistics operations.<\/p>\n
It said this is linked to fuel prices increasing, with both road haulage and sea freight costs rising and some carriers reintroducing fuel surcharges.<\/p>\n
Princes said it will implement \u201cpricing mechanisms\u201d as necessary to offset higher costs.<\/p>\n
On Monday, the Grocer trade publication reported the business has imposed a 5% price rise on many products as a result.<\/p>\n
Princes told shareholders on Tuesday that it will \u201cmonitor the evolving energy and raw material environment, including the impact on fuel, sea transport, and plastic packaging costs\u201d.<\/p>\n
The London-listed firm said it has secured around 70% of its energy requirements for 2026 and therefore has \u201ca good level of cost visibility and protection against near-term volatility\u201d.<\/p>\n
It came as the consumer group, which floated on the London Stock Exchange last year, revealed revenues of \u00a31.9 billion for the year to December 31.<\/p>\n
It also swung to a \u00a355 million pre-tax profit compared with a \u00a36 million loss in the previous reporting period.<\/p>\n
The company said it will continue to seek targeted merger and acquisition deals to help drive growth across the business.<\/p>\n
Princes also highlighted that it is \u201cconfident\u201d in the current business strategy and held its guidance of at least \u00a33 billion in revenues this year despite \u201ccurrent macro-economic uncertainty\u201d.<\/p>\n
Angelo Mastrolia, executive chairman, said: \u201c2025 marks a step-change for Princes Group, with our successful listing and a material strengthening of our financial profile.<\/p>\n
\u201cThe group has delivered strong profitability growth and cash generation, underpinned by a clear focus on margin expansion, capital discipline and high-quality earnings.<\/p>\n
\u201cWe have built a robust balance sheet and a highly cash-generative platform, providing significant financial flexibility.<\/p>\n
\u201cThis positions us to act decisively in a consolidating market, where scale, execution capability and access to capital are increasingly critical.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Tinned tuna maker Princes has indicated it could hike prices as the conflict in the Middle East threatens…\n","protected":false},"author":2,"featured_media":44891,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[1990,18716,34,18715,18717],"class_list":{"0":"post-44890","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-iran","8":"tag-conflict-in-the-middle-east","9":"tag-inflationary-pressures","10":"tag-iran","11":"tag-princes","12":"tag-sea-transport"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/116324044208905737","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/44890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=44890"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/44890\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/44891"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=44890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=44890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=44890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}