Alliance Select posts record income in H1

MANILA, Philippines — Publicly listed international seafood company Alliance Select International Inc. reported a record first half net income of $2.32 million, six times higher than last year, as net sales reached $47.5 million, 37 percent higher compared to prior year. 

 Alliance Select president and CEO Raymond See attributed the unprecedented growth to its implementation of several sourcing strategies and improved relationships with stakeholders, allowing the company to offer more value to its customers at sustained prices.

He said the healthy performance of the company is also attributed to its tuna and salmon segments, with its tuna business ending the first half of the year with a 58 percent net revenue increase.

 “Our tuna and salmon segments continue to display its potential in increasing sales and profit, and we plan on taking it to next level through continued innovation of both our products and processes,” See said.

 “At present, we are already working on upgrading our plant technology and equipment across all our business sectors to strengthen company operations,” he added.

 Last July, Alliance Select launched “Bay of Gold Select Tuna” – a new line of premium class tuna at affordable prices - in the Philippine market. The collection comes with five artisanal variants: Ventresca in Olive Oil; Manuka Smoked Ventresca in Olive Oil; Tuna Flakes in Shoyu; Manuka Smoked Tuna Solid in Olive Oil and Tuna Big Flakes in Oil with Chili.