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Princes Group PLC on Tuesday said it has the firepower to pursue ‘value accretive M&A’ and reported that it is trading in line with expectations. The Liverpool-based food and beverage firm, with brands including Princes tinned tuna and the Napolina range of Italian cooking ingredients, hailed a ‘milestone’ period which has coincided with its stock market listing. ‘We have taken decisive actions to enhance earnings quality, improve efficiency and strengthen our commercial partnerships. We are building a resilient, margin-accretive and customer-led business with a clear path for sustained growth. Our M&A and integration capability set along with the firepower we now have as a group is creating exciting opportunities to pursue value accretive M&A, in line with our stated strategy,’ Chief Executive Officer Simon Harrison said. In a trading statement, Princes said earnings before interest, tax, depreciation, and amortisation shot up 52% to £111.1 million in the nine months to September 30, ‘driven by structural margin improvement and synergy delivery’. Revenue slipped 5.7% to £1.42 billion from £1.51 billion. ‘The group continues to trade in line with expectations and remains confident in the delivery of full-year performance in line with management’s internal budget. The operational and commercial improvements achieved during the period are expected to continue to support margin development and cash generation,’ Princes said. Princes shares were up 0.7% to 448.17 pence each in London on Tuesday morning, down 5.7% from its 475p initial public offering price. Trading of Princes shares began on October 31, with unconditional dealings occurring from last week Wednesday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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