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Alliance Showing Profits Again Philippines, December 21, 12

Alliance Select Foods International Inc., tuna exporter, said it has reversed last year’s losses and earned $1.6 million for the first 10 months this year.
Alliance Select said losses last year reached $1.1 million. Revenues grew 83 percent year-on-year to $30.7 million on higher sales.
“A significant improvement in tuna fish deliveries and price rationalization for smoked salmon led to higher output and profits. This trend is expected to continue for the year and we forecast that recent acquisitions will add to the company’s growth in the near future,” Alliance Select said.
Earlier, Alliance Select has sealed the NZ$2.93 acquisition of an 80 percent of Akaroa Salmon NZ Ltd., a New Zealand-based salmon marine farmer and processor of fresh and smoked salmon.
Alliance Select had also secured six commercial fishing vessels as part of the vertical integration of the company’s operations after securing fishing rights in Indonesia and purchasing the New Zealand-based salmon processor.
Alliance Select continues to expand its smoked salmon operations, with US-based unit Spence & Co securing contracts to supply big retailers in North America.
Alliance Select had also secured six commercial fishing vessels as part of the vertical integration of the company’s operations after securing fishing rights in Indonesia and purchasing the New Zealand-based salmon processor.
Alliance Select continues to expand its smoked salmon operations, with US-based unit Spence & Co securing contracts to supply big retailers in North America.