MANILA, PHILIPPINES – Home-grown tuna producer Alliance Select Foods International, Inc. (“ASFII” or the “Company”; PSE: FOOD) reported an 83% year-to-date increase in consolidated net income after tax (NIAT) to US$ 713k versus the same period last year. The strong performance was driven by an improved product mix and greater plant efficiency. Consolidated net revenue for the period declined by 3.5% year-on-year to US$ 55.4mn, primarily due to reduced demand for frozen loins in the European market. To mitigate this impact, ASFII shifted toward a higher-margin product mix, resulting in a 6% increase in gross profit to US$6.1mn compared to the prior year. Favorable fish prices during the second quarter were reflected in the third quarter, while improved shipping arrangements also enhanced profitability. Net income was tempered by higher interest expenses arising from slower collections and elevated inventory levels following second-quarter shipping delays beyond the Company’s control. Nevertheless, gross profit rate improved by 120 basis points year-on-year, reflecting favorable raw material costs, higher plant utilization and improved operating efficiencies. “We will continue to build on this momentum by optimizing our product mix and sustaining efficiency gains to maximize profitability and shifting market dynamics,” said Jeoffrey P. Yulo, ASFII President and Chief Executive Officer. Alliance Select Foods International, Inc. is a publicly-listed company engaged in tuna processing, serving over 20 countries worldwide.