Chemical and food ingredient manufacturer D&L Industries Inc. said it posted a net income of P744 million in the first quarter, up 12 percent from P663 million a year ago, on strong growth of exports and domestic sales.
D&L president Alvin Lao said in a news briefing that its non-food business, aerosols, specialty plastics and oleochemicals accounted for two-thirds of the net income in January to March, while the food businesses contributed the balance.
First-quarter revenues climbed 2 percent to P6.39 billion, with domestic business accounting for 78 percent of total sales and exports contributing 22 percent.
Lao said he expected the domestic business to sustain its growth in the next quarters, as customers continued to place orders. He said the company planned to open more stores, add new items and products in their offerings.
“The indication is that domestic sales will remain strong and we have sufficient capacity from our existing plants to meet the increasing demand,” Lao said.