D&L bullish on growth, sees P3.2 B profit this year

MANILA, Philippines — D&L Industries Inc., the listed specialty foods ingredients, plastics and oleochemicals firm, expects to sustain its double-digit growth this year and book at least P3.2 billion in net income.

In a recent briefing, D&L president and CEO Alvin Lao said the company posted a net income of P2.9 billion last year, up 10.6 percent.

He said the company is enjoying strong growth momentum, boosted by the expansion of both domestic sales and exports, particularly those of high margin specialty products.

Lao said the domestic economy continues to grow and that inflation, although on the rise, is still generally very low.

Moving forward, the company expects to scout for new markets for its exports as it continues to come up with new products.

In the fourth quarter alone, the company posted a net income of P786 million, up 12 percent. High margin specialty products (HMSP) volume grew by 10.5 percent.

“We see that our full year results better reflect the long-term growth prospects of the business. Going forward, we will continue to exercise discipline and excellence in R&D as we continue to target opportunities in the growing Philippine economy, as well as in our rapidly expanding export segments,” Lao said.

Lao said the company posted strong export sales, which grew 68 percent last year.

Data from the company showed that the contribution of exports to total sales now stands at 25 percent, from just 18 percent in 2016.

Lao said with the company’s partnerships with Ventura and Bunge maintaining pace, the food ingredients segment is now the biggest contributor to exports.