Princes products

Princes has grown group turnover by 15%

Princes has notched up a 15% increase in annual group turnover.

The company, which owns the Napolina and Crosse & Blackwell brands and makes tinned food and juices, increased turnover to £1.74bn in the year ending 31 March, according to its latest accounts.

It also grew profit before tax by 32% to £52.85m.

Princes said it benefited from increased investment in its manufacturing facilities and brands.

During the year, it invested in new warehouse and ingredient processing facilities in its soft drinks site in Bradford and a new production line at its edible oils site in Belvedere, Kent.

After Princes acquired Crosse & Blackwell in 2011, it spent £4m relaunching the brand last autumn.

Princes also grew strongly overseas, with international sales climbing 25% to £350m.

“Growth has been achieved through a distinct strategic focus on the strength of customer and supplier partnerships across the group,” said Princes MD Ken Critchley.

“This, coupled with substantial investment into our brands, sites and people, has resulted in UK and international growth, which is a core part of our strategy.”