Metro Manila (CNN Philippines, August 9) — D&L Industries, a listed plastic and food input producer, took a hit from elevated inflation, but an official expressed confidence its Batangas plant can eventually help lift its bottom line.
In a disclosure, the company reported that its earnings declined by 28% to ₱1.24 billion in the first six months of the year.
D&L Industries said its performance in the period was weighed down by \”lingering effects of high inflation and generally cautious consumer sentiment.\”
But D&L Industries said it saw \”a subtle but continued sequential recovery\” after its profit jumped 9% to ₱646 million.
With its multibillion-peso Batangas facility now operational, the firm is bullish it can \”be a huge benefit for the company.\”
RELATED: D&L’s ₱10-B Batangas facility begins commercial operations
http://www.cnnphilippines.com/business/2023/7/10/dl-batangas-plant-commercial-operations.html
\”It will allow D&L to explore opportunities that were previously beyond our existing capabilities. With the new plant, we see new markets, higher value-added products, and deeper innovations that will further push our boundaries,\” D&L President and CEO Alvin Lao.
