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Article: Philippine Tuna company posts higher profits amid economic crisis
- Article from:
- Xinhua News Agency
- Article date:
- April 13, 2009
CopyrightCopyright 2009 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Philippine Tuna company posts higher profits amid economic crisis
MANILA, April 13 (Xinhua) -- Philippine-based Alliance Tuna
International, Inc. bucked the trend by posting higher profits in
2008 despite the global economic slowdown that has affected the
bottom line of most companies, it said on Monday.
Net income of the canned tuna manufacturer skyrocketed by 40
percent to 3.21 million U.S. dollars, while its revenues went up by
22 percent to 51.60 million dollars from January to December last
year, according to the company's latest financial statement.
"The increase is mainly due to higher selling prices (which) had
increased to 59,285 dollars per container last year from the 44,366 ...