Alliance Select Foods Int’l revenue up 35% in 2018

MANILA, Philippines — Alliance Select Foods International Inc. reported a banner year last year with revenue increasing by 35 percent.

Alliance president and CEO Raymond See said overall it was a record year for the company following a series of high points for Alliance Select.

“2017 was our turnaround year. Our 2018 result shows that the positive trajectory is sustainable and long-term,” See said.

The company raked in revenue of $97 million last year from $72 million in 2017. Net income before tax, meanwhile, rose by almost seven times to $3.5 million last year from $562,000 in 2017.

See said last year’s performance showed that the company is sustainable.

“Sustainability is core to our values. When we were in the process of turning the company around, we implemented changes that have a lasting impact not just on our profitability but also to the well-being of our customers, suppliers, team  members and shareholders. I’m happy to say the hard work is paying off,” See said.

See attributed the revenue growth to an increase in volume, both for the tuna and salmon businesses.

He noted for instance that export sales of canned tuna increased by 40 percent last year.

Alliance Select also introduced new product offerings such as pouched tuna variants and frozen tuna loins for export, and the launch of Bay of Gold, a premium brand.

See said Alliance Select plans to implement and continue several strategic initiatives and optimization measures to sustain the growth trajectory of the company.

“In 2019, we will continue to build and grow. The strong foundation of work and systems our team has been putting in place will continue to bring us forward,”  See said.