Mitsubishi-owned canned seafood company Princes Group saw its earnings rocket 52 percent in its latest financial year as COVID lockdowns sparked stronger retail sales.
The group’s profit before tax, restructuring costs, and impairment charges for the year ended March 31, 2021 reached £46.2 million (€55.3 million/$62.5 million), up from £30.4 million (€36.4 million/$41.1 million) the year before.
Group turnover was relatively flat, however, at £1.56 billion (€1.9 billion/$2.1 billion), up 2 percent from 2020.
"Demand for Princes products on the whole has significantly increased as a result of the lockdown measures put in place by government," Princes said in its earnings statement.
