MANILA -- Food and plastic input manufacturer D&L Industries is optimistic that growth picked up in the second quarter of the year, as it seeks to boost its exports business to complement the domestic market's healthy performance.
D&L Industries president Alvin Lao told reporters after the company’s stockholders’ meeting on Tuesday that prices of commodities remain low and should put more money in the pockets of consumers.
Lao said elections, however, had a lesser impact on consumer spending this year due to the delayed passage of the national budget. He pointed out that the firm had also reduced business working days during the second quarter as the Holy Week fell on April.
“But we are optimistic that second quarter will start to see better results, better than first quarter,” he added.
The company posted a flat net income growth in the first quarter, but Lao is confident of a recovery on the back of its pipelined exports.
He is optimistic about the second half of 2019, as they have lined up a host of activities in the third quarter in preparation for the Christmas season. “If our plant in Tanauan (Batangas) opens in 2021, you can imagine overtime. It will ramp up production so we are really under pressure to look for more export customers,” he said.
Lao bared they are in talks with various customers to promote the firm’s exports. “These would be mostly clients who are in food manufacturing or oleochemicals and there are also chemicals and plastics like paints, paint producers. So basically, almost the same profile as our customers here in the Philippines,” he added.(PNA)
