Chemical manufacturer D&L Industries Inc. on Tuesday said its net income in January to September went up by 17 percent to P2.54 billion from the previous year’s P2.16 billion. Know more:
Chemical manufacturer D&L Industries Inc. on Tuesday said its net income in January to September went up by 17 percent to P2.54 billion from the previous year’s P2.16 billion.
Lao said the better-than-expected earnings were mainly driven by a wider economic reopening and exports seeing resilient growth. Sales for the nine-month period rose 57 percent to P33.9 billion from the previous year’s P21.53 billion, but the increase was due to higher prices that the company pass on to its customers.
The company’s food ingredients segment posted a volume growth of 24 percent year-on-year, but with the extreme volatility in commodity prices this year, earnings declined by 6 percent.
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