D&L Industries Inc. is confident of hitting double-digit growth in net income for the year as it reported a first-half net income of P1.4 billion, 6 percent higher than the prior year’s P1.32 billion.
With profit last year at P2.34 billion, D&L is already close to hitting the original 10 percent target growth set for the year, according to Alvin Lao, D&L president.
“For just the first 6 months of the year, we already hit P1.396 billion. So, if you just annualize that, roughly P2.8 billion, we’re at something like 19 percent of last year’s net income. So, if anything, if we just did the same net income in the second half versus the first half, we’ll be well above the 10 percent growth net income. So, we’ll see,” he said.
Revenue grew 40 percent, at P26.61 billion from P18.98 billion last year. Exports rose 18 percent to P7.4 billion from P6.2 billion, contributing 27.81 percent of the topline. In terms of gross profit, exports contributed 38 percent.
