DNL 1Q2015 Net Income Hits PhP512M

Quezon–(PHStocks)–D&L Industries (PSE: DNL) net income reached PhP512 million, or earnings per share of PhP0.14, in the first three months of 2015. This is 16% higher from the same period last year.

First quarter revenues were up by 15%, driven by volume growth in food ingredients and oleochemicals. High margin specialties, which accounted for 59% of revenues, improved margins during the period.

Commodities outgrowing specialties resulted in gross profit margin of 16.9% versus 17.9% in same period in 2014 and 15.9% in FY14. Post-acquisition of Chemrez Technologies in October 2014, the company generated return on equity and return on invested capital of 17.8% and 16.9%, respectively.

Moving forward, the rest of the year will build on the progress made in the first quarter, bolstered by sustained strength of the food ingredients and oleochemicals businesses and abating logistical headwinds in the specialty plastics business.