Alliance Select Foods International Inc. (PSE: FOOD), a Filipino seafood company that processes tuna, has reported its financial results for the first three months of 2026. According to the company’s disclosure filed with the Securities and Exchange Commission (SEC) on May 13, 2026, the numbers show significant challenges during this period.
What Happened to Their Sales?
Think of a lemonade stand that usually sells 100 cups of lemonade. Now imagine selling only about 45 cups instead. That’s similar to what happened to Alliance Select Foods. Their sales (called “net revenues”) dropped to US$8.93 million in Q1 2026, which is 54.5% lower compared to the same period last year. In simple terms, their sales fell by more than half.
Why Did Sales Drop So Much?
According to the company, three main things caused this big drop:
- Extended Plant Shutdown: The company had to close their tuna processing plant in January for longer than planned to make improvements to the facility. It’s like closing your lemonade stand to fix the tables and umbrella – you can’t sell anything while the stand is closed.
- Weaker Business in Some Products: Their loins (parts of the tuna fish) and co-packing business (when they package products for other companies) didn’t perform well during this time.
- Delayed Shipments: Some products that were supposed to be shipped in the first quarter got pushed back to the second quarter, meaning those sales will be counted later.
The Company Lost Money This Quarter
Alliance Select Foods reported a loss of US$2.6 million after taxes for the first quarter. This means they spent more money than they earned during this period.
Several factors contributed to this loss:
- Higher costs to run the plant
- They had to sell older, more expensive inventory (tuna they had stored) from the previous quarter
- They paid more interest on borrowed money
The good news is that some costs actually went down, including general expenses and shipping costs, but these savings weren’t enough to make up for the bigger problems.
What Is the Company Doing About It?
Management is taking steps to fix these problems. They’re working on making the plant run more efficiently, controlling costs better, and adjusting how much tuna they process based on what customers actually want to buy. These changes are meant to help the company perform better in the coming months.
Company President and CEO Jeoffrey P. Yulo acknowledged the difficulties, saying the first quarter results show the impact of operational and cost-related challenges. He explained that the company is implementing measures to improve efficiency and cost management while working toward stabilizing performance.
About Alliance Select Foods
Alliance Select Foods International, Inc. is a publicly-listed company on the Philippine Stock Exchange that processes tuna. The company sells its products to more than 20 countries around the world. The company trades under the stock symbol “FOOD” on the PSE.
The company expects gradual improvement in the coming periods as their improvement plans are put into action, though this will depend on market conditions.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
