Alliance Select Foods Net Revenues Grow by 28% in 2024

Alliance Select Foods International, Inc. (FOOD) grew consolidated net revenues 28% in 2024 to US$72.4mn, driven by volume growth, bigger customer base and better fish prices. FOOD’s production cost improved by 7% from the previous year, resulting from higher plant utilization and installation of new equipment that enhanced output and efficiency. Core profit in 2024 reached US$0.893mn, which is a turnaround from a loss of US$2.6mn in 2023. However, the Company recognized impairment of certain assets leading it to report a loss of US$3.0mn for 2024.

The group’s 4Q2024 gross profit margin increased by 90 basis points to 13.9% from the previous year, due to favorable fish prices and enhanced plant utilization. Gross profit increased 23% in 2024.

“FOOD continues its upward trajectory,” said ASFII President and CEO Jeoffrey P. Yulo. “We shall continue to improve productivity and efficiency and build on our organizational capability, as we prepare to expand our sales volume.”

Alliance Select Foods International Inc. is a publicly-listed seafood company engaged in tuna processing serving over 30 countries worldwide.