D&L net income up 16% at P512M from P441M

Raw food materials manufacturer D&L Industries Inc. saw its pro-forma net income in the first quarter improve by 16 percent to P512 million from P441 million on the back of double-digit growth in food ingredients, oleochemicals and aerosols.

In a press briefing, D&L Chief Financial Officer (CFO) Alvin Lao said that the company’s pro-forma revenues grew 15 percent to P4.83 billion from P4.19 billion on the strong performance of most of its businesses. Revenue rose despite the impact of port congestion on its specialty plastics segment, half of which are traditionally exported.