International seafood company Alliance Select Foods International Inc. (PSE: FOOD) reported consolidated net revenues of $43.1 million for the first half of 2019. The first half registered a gross profit $5.3 million, and net
income before tax of $0.2 million.
The tuna segment’s year to date performance is a result of the team’s strong sales push although complicated by manpower challenges.
“We continue to play the long game. In the first half, we succeeded in fortifying our operations, mainly progressing and expanding our worker programs and ensuring that our factory continues to operate at optimal capacity. This is in tandem with the launch of our new products, some of which are already available in supermarkets,” said Alliance Select President Raymond K.H. See. “We are very happy with customers’ enthusiastic reception of our Ready-to-Cook Salmon variants. All prepared variants – Cheesy Garlic, Hot Creole, Lemon Pepper, Creamy Mustard, and Teriyaki, are now available in major supermarkets.”
Over the next few years, Alliance will continue to invest in its business. By the end of 2019, the Company will have completed its USD 2 million investment in facility and machinery upgrades which would allow improve products and efficiencies further.
Alliance Select Foods International Inc. is a homegrown publicly listed seafood company operating in General Santos City, with subsidiaries in Indonesia, New Zealand and the USA.