Alliance Select Foods Widens Loss to $17 Million in 2014
SEAFOODNEWS.COM [Philippine Star] By Richmond S. Mercurio - May 18, 2015 -
MANILA, Philippines, Listed seafood producer and exporter Alliance Select Foods International Inc. reported that its net loss widened to $17 million last year from the previous year’s $2.9 million.
Among the non-recurring expenses the company reported was a $3.2-million inventory write down in the market value and allowance for inventory obsolescence for both Gensan and Bitung plants.
Provisions were likewise made for impairment of three fishing vessels amounting to $ 7.8 million carried in the parent company’s books.
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