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February 8, 2009

Philippine canned tuna firm sees revenue boost from new markets
Philippine listed seafood manufacturer Alliance Tuna International Inc expects to register $ 72 million in revenues this year as sales are seen to be boosted by its entry into new markets as well as additional production from its Indonesian cannery.

The Manila Bulletin quoted the firm’s president Jonathan Dee said the bulk of revenues, $60 million, will be generated by the firm’s Philippine operations while $12 million will be contributed by their plant in Indonesia.

Dee said this does not yet include sales from the salmon processing business in New Zealand where the firm has just acquired a majority stake since its earnings will not yet be consolidated this year.

He added though that the salmon business, Prime Foods New Zealand, will generate about $7 million in sales this year.

Dee said the company will continue to seek new markets overseas to expand its marketing and distribution chain adding that aim is to sell to 80 countries in three years from the current 50.

From January to September 2008, the company earned a net income of $ 2.7 million, 58 percent more than profits it reported last year. Revenues increased by 25 percent to $ 31.1 million.

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