Data loading...

Alliance Select Expects Strong Rise In Tuna Export Sales

Alliance Select Foods International Inc expects sales this year to rise by about a third on higher tuna and salmon exports.

Alliance Select CEO Jonathan Dee

Jonathan Dee, Alliance Select president and chief executive officer, said the firm targets to surpass last year’s income and grow sales by 30-35 percent this year.

“We have yet to issue a guidance but certainly [we want to have] exports in excess of USD 100 million from around USD 80 million [last year],” Dee said. Further details about how and where these very strong export sales growth figures would be realized were not provided.

Last year, Alliance Select posted a net profit of P774,000, a turnaround from a net loss of USD 952,000 in 2011. This was accompanied by a 60 percent growth in sales to a record USD 82.3 million from USD 51.3 million in 2011.

The salmon division, which accounted for 26 percent of the total revenue, benefited from the full-year impact of Spence & Co and Big Glory Bay Salmon & Seafood Co Inc. The acquisition of Akaroa Salmon NZ Ltd in October 2012 also boosted revenues.

Alliance Select recently made its foray into the local retail sector with the introduction of the Superfish brand in the Philippine market, offering ready-to-eat smoked salmon slices and fresh un-smoked salmon cutlets at affordable prices.

The tuna canner is pursuing its plan to list in the Singapore stock market in the second half. It is still processing the necessary documents related to its proposed listing on the Catalist Board of the Singapore Stock Exchange through an offering of Singapore depository shares representing the company’s common shares.