Princes is strengthening its position in the European food supply market, with growing supermarket business helping the manufacturer increase revenue to £1.52 billion during the first nine months of 2026.
The company’s performance highlights an important development in the food manufacturing sector. While sales are increasing, the ability to convert additional turnover into operating profit remains a significant challenge.
Revenue increased by 10% compared with the corresponding period last year. Adjusted EBITDA reached £116.2 million, representing growth of 6.4%. However, the adjusted EBITDA margin declined from 7.9% to 7.7%, indicating that higher sales have not translated into equivalent profitability.
Its retail business remains particularly important, generating £1.25 billion in revenue, compared with £1.12 billion previously.
For supermarket procurement departments, Princes represents an important manufacturing partner across several grocery categories, including canned vegetables, tomatoes, fish, beverages and cooking ingredients.
The company’s ability to manufacture both branded and retailer-owned products gives it an important position in supermarket supply negotiations.
However, the difference between revenue growth and margin development raises questions about the economics of large-scale food manufacturing.
Acquisitions, production investment and expansion into additional markets can increase turnover, but manufacturers must also manage energy, packaging, transport and raw material costs.
Supermarket buyers are increasingly examining the financial strength of their suppliers, particularly where long-term supply agreements are involved.
Princes will need to demonstrate that its expanding European operation can deliver stronger returns while remaining competitive on price.
For the wider grocery industry, the performance illustrates the importance of scale, manufacturing efficiency and commercial discipline in an increasingly competitive food market.