Mitsubishi-owned UK-based food and drink group Princes -- currently in the midst of a sales process -- posted a pre-tax loss of £50.6 million (€58.8 million/$64 million) in the financial year ending March 31, 2023, despite revenue jumping 21 percent over the period to hit £1.74 billion (€2 billion/$2.2 billion).

In the latest accounts filed to UK registry Companies House, the group said the surge in revenue was largely due to increased pricing that was driven by inflation.

The hefty loss compares with a profit of £28.9