D&L sees higher profits this year

D&L Industries Inc., the country's leading specialty food ingredients and oleochemicals producer, expects to end the year with higher profits.

- By RICHMOND MERCURIO

D&L president and CEO Alvin Lao said that he is optimistic that a strong fourth quarter would allow the company to surpass this year its 2023 profit of P2.3 billion.

Lao said the company needs to earn P520 million to match last year's profit after net income reached P1.8 billion from January to September.

"Fourth quarter should be better (than the third quarter), especially for the food segment because it's the 'Ber' months. So we should see 2024 better than last year," he said.

Lao, however, said that it is still too early to tell how big the jump in the company's earnings will be from the third quarter to the fourth quarter.