WELCOME Princes MD, Cameron Mackintosh reviews our year and also highlights extensive future goals, for the company, our customers and consumers
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2022 IN REFLECTION
CONSUMER-LED INNOVATION
Against the backdrop of unprecedented inflationary pressures and supply chain disruption, 2022 was undoubtedly a tumultuous year for the food industry.
Following the 2020 launch of our Innov8 strategy, we’ve evolved our approach to new product development with the support of a dedicated innovation team embedded across the business. This has enabled the introduction of exciting new products and entry into new categories through ranges such as our frozen Princes Street Food sub-brand.
The ongoing impacts of global events such as the Covid-19 pandemic and the conflict in Ukraine have been severe and farreaching. However, as our industry and Group responds and adapts to change, we are also transforming our business to build a more resilient future and continuing to play an important role in delivering affordable, nutritious food and drink to hard working families. Against this backdrop, our operations team have concluded a long-term investment programme at our Long Sutton, Cardiff and Erith manufacturing sites, adding capacity and capability and I pay tribute to them and our partners for managing these large projects through such challenging times.
Marking our first foray into the frozen category, Princes’ new portfolio of marinated chicken kebabs is inspired by street food flavours from around the world – also a first for the frozen aisle, which responds to growing consumers interest in authentic food from global cultures. Princes has also entered the mixers category with a trio of blended juice drinks, Skinny Mixers, tapping into increased consumer demand for alcohol free alternatives. This is a very exciting time as we continue to expand the Innov8 initiative, driving long-term growth and offering a real point of difference for UK consumers and our customers.
