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Friday, March 29, 2024

Alliance Select posts net income of $3.3m

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Publicly listed international seafood company Alliance Select International Inc. reported a net income after tax of US$3.3 million in the first nine months of 2018, almost six times higher than a year ago and just $30,000 short of beating the company’s record full-year profit. 

Sales in the nine-month period increased more than 39 percent to US$74 million, while net income margin increased 3.6 percentage points to 4.5 percent. The third quarter results contributed positively as the company recorded net sales of US$26 million and net income of US$1 million.

“I am very pleased with the results,” said Alliance Select president and chief executive officers Raymond K.H. See. “We are continuing to see the fruits of our collective hard work and the solid strategy implemented by our

team. We would really like to achieve a steady and sustained growth for the company and our shareholders.”

Alliance Select is a homegrown international seafood company operating in General Santos City, Philippines, and has subsidiaries in Indonesia, New Zealand and the US.

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