Princes Group, the Liverpool-based international food and beverage giant, which joined the London Stock Exchange in November, said on Tuesday that its consolidated revenue rose 46% to £1.9 billion in 2025 and profit before tax was £55 million compared to a loss of £6 million in the prior period.
Its consolidated results compared the 12 months to December 31, 2025, against the nine months to December 31, 2024.
Princes’ unaudited pro-forma results (IPO perimeter, 12 months like-for-like) showed pro-forma revenue down 6.5%, “reflecting deflationary pressures across several core raw materials and the strategic exit from low-margin contracts.”
Pro-forma profit after tax was £61.4 million versus £9.3 million in the prior year.
Princes Group, owned by Italian food firm Newlat, is best known for its Princes Tuna and Napolina brands, but also owns Crisp N Dry and licenses brands including Branston, Batchelors and Flora. It is the largest supplier of edible oils in the UK and sells nearly a billion cans of food a year.
On current trading and outlook, Princes Group said: “The underlying business trend is in line with expectations. Some portfolio optimisation effects are expected to continue impacting the top line in H1 2026, although underlying volumes remain resilient across the group’s core categories and recent contract wins in the UK and Europe provide good visibility into the second half.
“Profitability improvement is continuing in line with the expected trajectory, supported by the structural efficiency gains delivered in FY2025 and the ongoing activation of the group’s medium-term value creation programme.
“In light of prevailing macro-economic conditions and their potential impact on energy costs, the group has implemented targeted actions to contain any negative impacts while continuing to monitor the evolving energy and raw material environment, including the impact on fuel, sea transport, and plastic packaging costs, and will implement its pass-through pricing mechanisms as necessary.
“The group has secured approximately 70% of its energy requirements for 2026, providing a good level of cost visibility and protection against near-term volatility. The remaining exposure is being actively managed through a disciplined, phased procurement approach.
“In transport and logistics, the group is observing renewed inflationary pressures, with fuel prices increasing and both road haulage and sea freight costs trending upwards, including the reintroduction of fuel surcharges by major carriers. The group maintains a diversified logistics network and long-standing carrier relationships, and is actively managing these cost pressures through contractual mechanisms, route optimisation and, where appropriate, pricing actions.
“On strategy, the M&A pipeline remains active, with several near-term opportunities under evaluation. The group’s net cash position of £395 million (excluding IFRS 16 lease liabilities of £83.6 million) provides substantial financial flexibility to pursue value-accretive transactions without recourse to further financing.
“Despite the current macro-economic uncertainty, management remains confident in the group’s strategy and confirms its medium-term guidance of £3 billion+ revenue, +300 basis points of EBITDA margin expansion from FY2024 levels, and underlying FCF conversion of greater than 60%.”
Princes Group CEO Simon Harrison said: “2025 has been a transformative year for Princes Group, marked by our successful listing on the London Stock Exchange and strong delivery against our strategic priorities.
“In our first months as a listed company, we have demonstrated the resilience of our business model, delivering robust financial performance, disciplined execution and structural margin expansion.
“We ended the year with a strong net cash position, providing significant optionality and the financial flexibility to support our growth ambitions.
“Our performance reflects a continued focus on high-quality earnings and cash generation, underpinned by the strength of our brands and the essential nature of our product portfolio.
“Operational excellence remains central to our strategy, with meaningful margin progression delivered across the Group. At the same time, our international footprint and strong UK market position continue to differentiate Princes, reinforcing our role as a partner of choice for customers.
“Looking ahead, we remain focused on disciplined, value-accretive growth. Our robust balance sheet and platform position us well to capitalise on a growing pipeline of M&A opportunities, while continuing to invest in the business to drive sustainable long-term value for shareholders.”