Manila: Specialty food ingredients and oleochemicals producer DandL Industries Inc. anticipates exceeding its PHP2.3 billion profit from last year in 2024, driven by an optimistic outlook on its traditionally strong fourth-quarter performance. DandL Industries President and CEO Alvin Lao indicated a continued robust level of consumer activities in the fourth quarter despite prevailing high prices.
According to Philippines News Agency, DandL Industries disclosed a net income of PHP1.8 billion for the first nine months of the year. The company recorded a profit of PHP493 million for the third quarter, which represents an 11 percent decline compared to the same period last year. This decrease was primarily attributed to an elevated cost base from newly commissioned lines at the Batangas plant.
Lao emphasized the necessity for the company to achieve PHP520 million in profit in the last quarter to match the previous year’s earnings. He noted that strong export sales have been propelling the business forward amid
st cautious consumer sentiment domestically. Export sales have surged by 38 percent year-on-year, with gross profits up by 24 percent year-on-year.
Lao also highlighted the strategic importance of the Batangas plant in boosting export capabilities, suggesting that the initial cost implications from the new plant obscure its long-term potential. Exports showed sustained positive momentum in the first nine months, reaching PHP9.2 billion in sales, a 38 percent increase year-on-year.
The company is optimistic about exports potentially achieving 50 percent of revenue in five years, although this is uncertain due to expected domestic market growth fueled by easing inflation. DandL Industries reported double-digit volume growth in both High Margin Specialty Products (HMSP) and commodity segments, with HMSP volumes up 18 percent and commodity volumes rising 44 percent year-on-year in the first nine months.
Lao added that HMSP volumes increased by 10 percent in the third quarter, marking the fifth consecutive quar
ter of growth since the Batangas plant began commercial operations.
