Food ingredients and plastics manufacturer D&L Industries Inc. said Monday it remains positive about the overall business this year as the increase in commodity prices and higher inflation has not affected demand yet.
D&L president Alvin Lao said in an interview following the annual shareholders’ meeting demand from customers remained strong as people continued to dine out and travel despite rising prices.
“There is still strong desire for people to go out and travel after two years of lockdown due to the pandemic and this is offsetting the higher costs,” Lao said.
“While things are lot more expensive now, the high cost is not a factor because of the people’s desire to spend,” he said.
Lao said given this trend, the company’s second-quarter performance would be better than the first quarter. He said aside from election-related spending, a more relaxed quarantine restrictions during the second quarter of the year helped the company’s business.