D&L Industries Inc. announced on Wednesday that its net income dropped to P2 billion last year despite a strong rebound in earnings in the fourth quarter.
In a virtual briefing, the listed food-ingredient and chemical producer said the amount was a 23-percent decrease from P2.6 billion in 2019. Full-year sales shed 3 percent year-on-year to P21.7 billion from P22.4 billion, it added.
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