D&L INDUSTRIES, Inc. is expecting another record year in 2023 after achieving record net income this year despite the pandemic restrictions during the first quarter, its top official said.
“Next year should be better [since] this year we lost January because of Omicron,” D&L President and Chief Executive Officer Alvin D. Lao said in a media briefing on Monday.
The new plant is also expected to help in ramping up its exports, which currently account for 33% of D&L’s total revenues. Mr. Lao noted that the initial public offering has helped in increasing D&L’s foreign ownership to 14% from zero in 2012. “This plant represents the next leg of growth for the company and our aspiration to be recognized globally as a world-class Filipino manufacturing company,” he added.
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