D&L's export biz exceeds pre-pandemic level

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Metro Manila (CNN Philippines, October 21) — The export business of listed food and chemical products producer D&L Industries has weathered the COVID-19 pandemic, with sales hitting about ₱4.5 billion in the first half of 2021.

Despite the current global health crisis, the group's export business continued to develop robust growth and is expected to contribute further to D&L's top line.

In the January to June period of 2021, D&L's export sales accounted for 33% of its total revenues of ₱13.9 billion. In 2019, the firm reported ₱11.036 billion in sales, 21% of which came from exports.

"We see exports accounting for at least 50% of our total revenues in the next few years," D&L president and chief executive officer Alvin Lao said in a statement Thursday.

The company said its coconut-based products under food and oleochemicals recorded the strongest traction from foreign markets given the coconut oil's natural antiviral, antibacterial, and antifungal properties.

"Looking ahead, especially with the much anticipated commercial operations of our facility in Batangas, we see various opportunities that we can now take advantage of given the new capacity and capabilities that we will have," he said.

D&L previously said its ₱8-billion Batangas facility will be operational by the second quarter of 2022, supporting its target of penetrating new international markets.

The group focuses on manufacturing customized food ingredients, specialty raw materials for plastics, and oleochemicals for personal and home-care use.