Princes, the Liverpool-based food and drink group, has reported an £8 million rise in pre-tax profits.

The Princes group’s head office, located in Liverpool’s Royal Liver Building, has reported positive growth throughout the last tax year and anticipates greater profits to come.

The Japanese-owned company saw pre-tax profits reach £65.2 million to March 31, 2014, a significant increase on 2013’s pre-tax profits of £57 million.

Total sales in 2014 increased from £1.52 billion reported for the previous year to £1.66 billion.

Princes strong financial position also made it possible to acquire a total shareholding in its Italian food products firm, Napolina.

Princes reported in its accounts:

“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.”

Source

Image Credit

Words: Peter Cribley