Alliance Select banks on new management to stay afloat
Listed company Alliance Select Foods International Inc. is banking on new management and employees to stay afloat.
Alliance Select CEO Raymond K.H. See said in a Philippine Star report that the company intends to sustain its profitability, which will be supported by the fact that it has a new management.
“Core initiatives revolved around people training and development, performance measurement, product innovation, and financial restructuring.” See said in the report.
“The team is highly motivated and we are looking forward to continuously improve all parts of our business, he added.
Last week, Alliance Select’s shareholders elected Antonio Pacis, Raymond K.H. See, Grace Vera Cruz, Joseph Roxas, Gabriel Dee, Erwin Elechicon and Dobbin Tan as their board of directors.
In 2017, Alliance Select swung to profitability with net income reaching $1.6 million as revenues grew 20 percent to $72.2 million.
This was the firm’s highest income reported in the first quarter in 10 years, according to the report.
The growth was said to be driven by the positive performance of the company’s tuna subsidiary in the Philippines, Spence & Co. Ltd. and Akaroa Salmon New Zealand Ltd.