Tuna, salmon business seen to drive Alliance Select profit

Francia, Arra B.

Date

July 6, 2018

Author

Francia, Arra B.

Metadata

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Classification code

BW20180706_S1/2

Excerpt

Alliance Select Foods International, Inc. (ASFII) is on track to post profits again this year, driven by the growth of its tuna and salmon businesses. In 2017, the listed international seafood firm made a profit for the first time since 2011, posting a net income of $1.6 million. This followed a 20% increase in revenues to $72.2 million for the year. By the end of the first quarter of 2018, the company has already recorded a net income of $1.22 million, significantly higher than the $90,295 it made in the same period in 2017. Revenues also went up 40.6% to $23.65 million.

Citation

Francia, Arra B. ( 2018, July 6-7). Tuna, salmon business seen to drive Alliance Select profit. BusinessWorld, p. S1/2.