posted a net income of P3.31 billion in 2022, up 26 percent compared to the P2.64 billion posted a year earlier.'Just when we thought that we are at the tail end of the challenges brought about by the pandemic, 2022 presented a fresh set of challenges which were mostly on the macroeconomic front,' D&L President and Chief Executive Officer Alvin Lao said.'Nonetheless, our record earnings this year demonstrated the resilience that we have built over the years,' he added.
D&L said its three biggest business segments — food ingredients, oleochemicals, and other specialty chemicals and specialty plastics — all booked earnings growth that were either at record highs or slightly below the 2021 level.Its export division also flourished with revenues jumping by 33 percent to P13.60 billion from P10.20 billion.Lao said that the company's capital expenditures had peaked and were expected to decline this year once its Batangas plant was completed.