Princes Group's interim profit benefits from acquisitions, cost discipline

Sept 15 (Reuters) - UK's grocery supplier Princes Group PRN.L posted a rise in first-half profit on Tuesday, helped by cost discipline, synergies from its recent deals such as baby food brand Plasmon, even as it warned of significant pressures on input cost inflation.

• Princes Group, owner of popular packaged foods including Princes Tuna and Naked instant noodles, among others, said brand acquisitions and strict cost controls helped it navigate tougher consumer trends and rising input costs driven by the Iran war.

• The Liverpool-headquartered firm logged adjusted core profit of £79.3 million ($106.8 million) in the first-half ended June, up 7% from a year ago.

• Shares were up 1.2% at 305.5 pence in early trade.

• Princes Group said trading for the full year remained in line with its expectations, with the benefits of price hikes effective July 1 being realised in the third and fourth quarters of 2026.

• "Second half should deliver strong progress, given the recovery of higher input costs and further synergy benefit," Peel Hunt analyst Charles Hall said in a note.

• The firm also said it was in discussions for two transactions, one of which is expected to come through in the next few months.

• Packaged foods supplier Hilton Foods HFG.L last week lifted its annual profit outlook betting on resilient demand for its core meats business, despite voicing caution over broader uncertainty among consumers.

($1 = 0.7423 pounds)