D&L Industries’ net income up 15% to P2.64B
D&L Industries Inc., a leading manufacturer of customized food ingredients and oleochemicals, reported a 15-percent growth in its net income last year to P2.64 billion.
In a disclosure to the stock exchange, D&L Industries said its revenues increased by 14 percent year on year on the back of the increase in sales despite higher prices of raw materials.
“Despite the volatility in FX and commodity prices, group-wide gross profit margin was maintained at 18 percent,” the company said. Its high margin specialty products even reported an improvement in gross profit margin to 24.8 percent.
For 2016, the company generated a return on equity of 18.8 percent.
The company took note of the strong performance of the Philippine economy, specifically the growth in investment and consumption.
“Given these positive macroeconomic factors, D&L Industries continues to see growth across all its business segments,” the company said.