Food ingredient and specialty plastic additive manufacturer D&L Industries (DLI) said on Thursday it surpassed its 2013 profit target by registering net income of P1.4 billion, an increase of 41 percent from its 2012 net income of P993 million.
The target for 2013 was to see net income grow 34 percent from the previous year.
Alvin Lao, DLI chief financial officer, told reporters on Thursday that despite Super Typhoon Yolanda affecting the company’s coconut oil supply chain, the company still managed to post a higher income last year compared to 2012.
“Despite Yolanda, we have higher income, and it is fairly stable. We’re affected because our customers in the areas were affected, as well as the road blocks and ports and airports’ destruction that posted challenges to logistics,” he said.
“If Yolanda didn’t happen, we could’ve done better. But we did good despite the calamity,” Lao added.
The chief financial officer added that all of DLI’s businesses—food ingredients, aerosols and Chemrez Technology products—recorded 5-percent to 20-percent growth in volume sales last year.
For the current year, DLI expects profit growth to continue as a strong domestic economy fuels sustained consumer spending.
“Our [gross domestic product]per capita in the Philippines is roughly $3,000. On a per person basis, as income goes up, it means also [that]disposable income would go up. And when disposal income increases, a lot of industries would benefit,” Lao said.