NextGen Day

D&L Industries, a manufacturer of plastics and food ingredients, anticipates ongoing excellent profits results in the second half of the year as the government’s decision to abandon its lockdown approach is positive for future economic growth and company optimism.

In a virtual press briefing on Wednesday, D&L President and Chief Executive Officer Alvin Lao stated, “Assuming there will be no more lockdowns and no new (coronavirus) variant causing severe symptoms, it is something we are confident about that the third quarter, fourth quarter or the second half should be strong again.”

Since the economy is expanding and most coronavirus disease 2019 (Covid-19) cases are light despite the fact that instances are once again on the rise, Lao is confident about the expansion of quarterly earnings.

The revenue generated by D&L Industries from January to June of this year climbed by 17% year over year to PHP1.6 billion, exceeding the revenue generated in the first half of 2019 and 2018 prior to the coronavirus disease 2019 (Covid-19).

Despite the Omicron jump in January and the strong rise in commodity prices, its first half earnings constitute the highest first half income level in the company’s history. This was primarily fueled by the ongoing economic recovery that was evident across all of its components.

The second quarter, which was the first full quarter with alert level 1 in effect, saw a substantial recovery in D&L’s earnings, which rose to PHP851 million, up 22% year over year and significantly higher than pre-Covid income levels.

So, according to Lao, “we are on course to at least match, if not surpass, our pre-Covid high, which is in 2018.”

Lao said that its expansion facility, which is located on a 26-hectare land in the province of Batangas, is scheduled to begin doing business in January.

With the increased capacity, the new facility hopes to service customers abroad. “We are messaging that this new plant is going to be up and running to both existing and potential clients,” he added.

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