D&L Industries Inc., the country’s largest specialty foods ingredients, plastics and oleochemicals, is on track to hit its full-year net income target of P3.2 billion, up 10 percent from P2.9 billion in 2017, on strong volume growth of its commodities and high margin specialty products businesses.
D&L president Alvin Lao said in a press briefing Friday said the company was optimistic about hitting its 10-percent net income growth target this year given the positive performance in the first nine months of 2018.
D&L registered a net income of P2.4 billion in the first three quarter of the year, up 13 percent from P2.12 billion year-on-year.
Net income in the third quarter rose 13 percent to P874 million.
Nine-month revenues inched up by one percent to P20.2 billion on the significant decline in raw material prices, especially coconut oil.
“The growth in the high margin side of the business is a reflection of our investments in R&D which allow us to increase our market penetration and to develop more complex and customized products for our customers,” Lao said.