Princes digests higher profits
PRINCES, the food and drink manufacturer based in Liverpool, has reported a 14% increase in annual profits.
The Japanese-owned company’s accounts, recently filed at Companies House, show pre-tax earnings climbing £8m to £65.2m in the year to the end of March 2014. Sales rose from £1.52bn to £1.66bn.
During the period, Princes increased its shareholding in Italian foods products firm, Napolina, from 76% to 100%.
In its accounts, Princes said: “The group continues to invest in research and development. This has resulted in a number of new products being launched recently which are expected to make contributions towards the growth of the business.”
In the current financial year the company completed a £40m redevelopment project at its soft drinks factory in Bradford.
Princes has upgraded the site, including more than 31,000 sq ft of new warehouse and production facilities. The plant produces more than 400 million bottles of fruit squash and carbonated soft drinks every year.