- Princes, the tinned tuna maker, has indicated it may increase prices due to renewed inflationary pressures on transport and logistics, exacerbated by the conflict in the Middle East.
- The company is facing rising fuel costs for road haulage and sea freight, with some carriers reintroducing fuel surcharges, leading to higher business expenses.
- Princes plans to implement 'pricing mechanisms' to offset these increased costs, and reports suggest a 5% price rise has already been applied to many of its products.
- The London-listed firm reported revenues of £1.9 billion for the year to 31 December and swung to a £55 million pre-tax profit, compared to a £6 million loss in the prior period.
- Princes remains confident in its business strategy, maintaining guidance for at least £3 billion in revenues this year and continuing to seek targeted merger and acquisition deals for growth.
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