D&L pro fit grows 10% to P2.1B

PLASTICS and aerosols manufac 10 percent higher recurring net of the year as earnings and volume growth started to pick up.

reached P2.1 billion, 10 percent higher than P1.93 billion registered in the same period in 2016.

Earnings before interest and taxes also grew 10 percent yearon-year to P2.71 billion.

booked a 15 percent increase in net income to P771 million.

The company said high margin specialty products volume growth has started trending back to its historical average of 7 percent year-on-year.

“This quarter showed us re President Alvin Lao said.

the second quarter was a temporary effect of the high earnings base in 2016 which was boosted by election-related spending. Moving forward, we continue to see robust growth across all our segments. This will be supported by the still vibrant domestic economy, strong growth in our export sales, and our continued investments in research and developments,” he added.

- od, export sales grew 74 percent year-on-year, while the contribution of exports to total sales now stands at 25 percent from the 18 percent share in 2016.

“This represents a record high for the company. With the company’s partnerships with Ventura and Bunge maintaining pace, the food ingredients segment is now the biggest contributor to exports. The segment contributed 45 percent to total export sales compared with just 19 percent in full year