March 15, 2007 – Alliance Tuna net income jumps 80% to P102M, Alliance Tuna International Inc., one of the country’s largest tuna exporters, said net earnings jumped by more than 80 percent last year to P102.8 million on new clients and orders. In a financial report filed with the Philippine Stock Exchange, Alliance Tuna said net sales grew nearly 43 percent to P1.6 billion, mainly due to the upsurge of orders from all the major markets, orders from new markets it establised last year and an expansion of the company’s product lines. Gross profit announced to P189.3 million while gross profit margins were posted at around 12 percent, reflecting strong margins in a commoditized globl industry. Improved cost controls and the entry into new markets that paid better prices helped in improving the core profitability of the company. Alliance Tuna said.
Alliance Tuna president Jonathan Dee said “2006 was a great year for us”. The company’s stellar performance was the result of our market expansion program and our continous program of improving operations at the factory floor. Dee said the company is now selling to more than 40 countries worldwide, double to number two years ago and is continously seeking new markets. We have taken part in exhibitions in Asia, the Middle East and Eastern Europe which have helped us expand our marketing reach. This larger client base has enabled us to beat the targets we set ourselves at the start of 2006 Dee said.
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