Copyright Reuters
Sign up here. The supplier of canned fruit, vegetables, soups, sauces and ready-to-eat meals said a decline in pricing across core raw materials affected its revenues, but it was confident in delivering full-year performance in-line with management expectations. Shares of the company were up nearly 5% at 0856 GMT. The Liverpool-based owner of Napolina pasta and tinned tuna brands debuted in London late last month, with a valuation of 1.16 billion pounds. Industry figures last month showed that British retailers cut their prices in October, led by the biggest drop for food in almost five years. "We are building a resilient, margin-accretive and customer-led business with a clear path for sustained growth," CEO Simon Harrison said in a statement. Princes Group's core profit rose 51.5% to 111.1 million pounds ($149.11 million) for the nine months ended September 30, while total pro forma revenue fell 5.7%. ($1 = 0.7451 pounds) Reporting by Rishab Shaju in Bengaluru; Writing by Pushkala Aripaka ; Editing by Nivedita Bhattacharjee
