Alliance Select Foods International Inc. reported a net income of USD215,000 for the first quarter, more than triple the USD67,400 compared to the same period in 2024.
The tuna processing and exporting company said enhanced plant utilization and favorable product mix listed gross profit by 15 percent to USD1.82 million in spite of an 8 percent decline in net revenue.
Operating expenses rose 3 percent year-over-year, primarily due to increased costs in outside services, taxes, and fees. Interest expenses increased by 7 percent as the company secured additional loans to support working capital requirements.
President and CEO Jeoffrey P. Yulo expressed optimism about the company’s performance. “Our numbers are steadily improving, and forecasts are encouraging. We look forward to new challenges and opportunities,” he said.
Alliance Select Foods, a publicly listed seafood company, specializes in tuna processing and exports its products to over 30 countries worldwide. The company operates in three segments: Tuna, Salmon, and Rental, offering a range of products including canned tuna, smoked and raw salmon, fishmeal, and fish oil.
With a focus on operational efficiency and market expansion, Alliance Select Foods aims to continue its growth trajectory in the global seafood industry.
