D&L Industries posts P3.2B net income in 2018, up 10%

Listed chemicals manufacturer D&L Industries Inc. booked a 10-percent increase in its bottom line for the year 2018 driven by strong contributions across its businesses.

In a press briefing in Makati City on Tuesday, D&L Industries president and CEO Alvin Lao said the company's recurring net income stood at P3.2 billion last year, up 10 percent year-on-year.

Meanwhile, earnings before interest and taxes reached P4 billion, up 8 percent.

"Blended gross profit reached a record high of 22 percent in fourth quarter, bringing the full year blended margin at 19 percent, up 2.3 percentage points yer-on-year," Lao said.

The margin expansion is a result of the company’s increased focus on research and development and demonstrates the company’s ability to effectively pass on price changes to customers, he said.

"The company aims to further grow both margins and market share, by continuing to develop specialized products in accordance to specific customer needs," he added.

High Margin Specialty Products accounted for 63 percent of total revenues in 2018, up 58 percent from 2017.

Exports as percentage of total revenues stood at 24 percent.

Food ingredients segment remains the largest contributor to group exports, accounted for 39 percent of total export sales.

Specialty plastics contributed 31 percent of total export sales. —LDF, GMA News