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D&L Industries’ earnings up 31% on exports growth - BusinessWorld Online

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D&L Industries, Inc. on Wednesday reported a net income of P2.6 billion last year, up 31% from a year earlier, driven by increased economic activity and growth in the food ingredient maker’s export business.

“Our business faced incredible challenges during the pandemic. Now emerging two years later on a better footing both operationally and financially, with our earnings already back to pre-COVID levels, we feel that the company has not only proven but also strengthened its resilience,” D&L President and Chief Executive Officer Alvin D. Lao said in a statement.

“With a lower COVID alert level in place and continued decline in new cases in the country, the company sees a buildup in momentum and renewed business optimism for further recovery,” it added. Meanwhile, the volume of high-margin specialty products grew 13% in the fourth quarter due to the eased quarantine restrictions.

“Coconut oil continues to gain traction in the global market due to its perceived natural antiviral, antibacterial, and antifungal properties. In addition, coconut oil remains a valued, sustainable substitute for petroleum-based raw materials used in many applications such as personal hygiene and home cleaning products.

 

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