Record sales have again been achieved by international food and drink group Princes, which is close to completing a £40 million upgrade of its Bradford site.

The group, which employs 325 people at its soft drinks plant at Tong, Bradford, grew sales by 15 per cent from £1.51 billion to £1.74 billion in the year to March 31. Princes posted post-tax profits of £40.4 million against £31.1 million a year earlier.

Among capital investments made by Princes during the year was a new warehouse and ingredient processing facilities at the Bradford site on Weaverthorpe Road, where work is due for completion next year. Bradford is the group’s largest soft drinks factory and the investment will keep the city at the forefront of the food and drinks sector. In the last 12 months the Bradford workforce has expanded by 18.

Princes is now the country’s largest supplier of canned food and, based on its previous year’s financial performance, ranks as the tenth largest food and drink company in the UK.

It achieved organic growth and also integrated acquisitions during the year. Over the past three years Princes has acquired two major canned food production sites in East Anglia and formed a new company in Italy operating one of the most modern and efficient tomato processing, canning and packing sites in Europe. Princes operates 14 production sites and employs more than 6,000 people.

Princes said it also made strong progress with its strategy of expansion in continental European and international markets, increasing sales outside of the UK by 25 per cent to £350 million against £280 million in 2012.

Managing director Ken Critchley said: “Growth has been achieved through a distinct strategic focus on the strength of customer and supplier partnerships across the group.

“This, coupled with substantial investment into our brands, sites and people, has resulted in UK and international growth, which is a core part of our strategy.

“We have also increased our recruitment of graduates and apprentices into the company as part of our commitment to provide people with long-term career opportunities and excellent training and development support.”

Over the past three years, Princes has grown its sales by 47 per cent and has employed an additional 1,350 people.