D&L Industries Inc. posted profit of P1.37 billion in the first nine months of the year, down 32 percent from last year’s P2.03 billion.
Sales hit P15.92 billion, down 4 percent from P16.56 billion last year.
The company said its operations “recovered strongly in the third quarter, with the gradual reopening of the economy allowing the company to capitalize on relevant product offerings.”
“The recovery in the third quarter confirms that we’ve survived the worst of this pandemic.
Our income for the third quarter doubled from the income recorded in the second quarter, and even managed to surpass our first quarter income which was not fully impacted by the pandemic yet,” said Alvin Lao, D&L president.