Canned tuna exporter Alliance Tuna International, Inc. has registered high profits from January to March despite weak global trade flows. It is said that the net income of listed tuna firm went up by more than a quarter to $220,340. Revenues increased by 42 percent to $13.3 million during the first three months of the year.
According to the company such a rise in sales was mainly due to the fact that the company’s global marketing network helped serve as an insurance against slowdown in some of its traditional markets. It is told that the number of containers shipped last quarter increased by 57 percent to 280, with Europe still the top destination of the company’s exports, followed by North America and nontraditional markets.
Earlier the company told that it would diversify as part of long-term growth plans, for instance transforming into a food holding conglomerate. Alliance Tuna has bought a controlling stake in a New Zealand-based salmon processing company last January, allowing it to capture a huge market in the Oceania region.
The company also increased its stake in Indonesian subsidiary PT International Alliance Food Indonesia to 80 percent from 70 percent in March, saying that this would provide the company a steady stream of profit.
