Alliance Select Foods International, Inc. Net Revenues Grow by 55% in Q12024

Alliance Select Foods International, Inc. posted US$21.3 million in net revenue in Q12024. This is 55% higher YoY. Gross profit (GP) reached US$1.7 million, 106% greater than in Q12023. The company had net profits of US$89 thousand in Q12024, recording a profit for the second straight quarter.

The revenue gains stemmed from improved export volumes, increased fishmeal and oil products, and a recalibration of selling prices. The stronger growth in GP resulted from a sustained decline in fish prices that more than offset a moderate increase in manufacturing overhead and head office expenses.

Alliance Select Foods President and CEO Jeoffrey P. Yulo said, “The last two quarters have been most encouraging. We will continue to enhance our operational efficiency and marketing strategy to achieve positive results this year.”

​Alliance Select Foods International, Inc. (ASFII) is a homegrown international seafood company. It is a public corporation registered in the Philippine Securities and Exchange Commission (SEC) on September 1, 2003 as Alliance Tuna International, Inc. It started commercial operations to engage in tuna processing, canning, and the export of canned tuna products in General Santos City, Mindanao, Philippines. In 2006, the company was listed on the Philippine Stock Exchange through an initial public offering. It was renamed to Alliance Select Foods International, Inc. in 2010.

Today, ASFII is internationally regarded as a producer of high-quality canned tuna made from select and sustainably sourced ingredients.