D&L eyes 10% growth in earnings this year

D&L Industries Inc., the country’s leading specialty food ingredients and oleochemicals producer, expects to hit a 10 percent profit growth this year following the company’s strong performance from January to September.

- By RICHMOND MERCURIO

“Our target net income growth for the full year is 10 percent. Currently, we're at eight percent year-on-year, nine months versus nine months last year. So it’s not that far from the 10 percent target,” D&L president and CEO Alvin Lao said yesterday.

“We're going to try our best to hit that, but it will depend on some factors. We're hoping that the Philippine economy will continue to do relatively well. So we're optimistic in that sense,” he said.

From January to September, D&L reported an eight percent increase in net income to P1.95 billion from P1.81 billion in the same period in 2024, mainly driven by the resilient volume growth amid elevated coconut oil prices.

Lao said that the operating environment remains challenging, with coconut oil prices reaching a new all-time high in the third quarter.