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GMA Network
4 days ago
- Business
- GMA Network
D&L optimistic about hitting 10% profit target for 2025
Lao family's specialty food ingredients and oleochemicals producer D&L Industries Inc. is optimistic that it will hit or surpass its 10% profit target for 2025, as its first half earnings posted 19% growth. 'For now, we're sticking to double-digit growth… But, if anything, knock on wood, it seems we have a higher chance of exceeding rather than going below that income target,' said D&L president and CEO Alvin Lao at a virtual briefing. 'For last year, D&L's net income was P2.34 billion. For the first six months of 2025, we already hit P1.396 billion. So, if you just annualize that, it's roughly P2.8 billion; we're at something like 19% above last year's net income.'' He said that D&L is expecting to sustain the growth path towards the second half of 2025 'since inflation has gone down compared to the first semester' as well as amid expectations that interest rates will be cut further. Lao added that the US tariffs will not have much impact on D&L's exports since the US market accounts for only 3% of its revenues, with 25% coming from its other export markets such as the Asia Pacific region, from China all the way down to Australia and New Zealand, as well as Europe, Latin America, and even Africa. The company's first half earnings were mainly driven by the consistent quarterly profitability of the Batangas plant and the robust exports business amid elevated coconut oil prices. —VBL, GMA Integrated News
Asia News Network
29-07-2025
- Business
- Asia News Network
Oil firms in the Philippines announce price freeze in areas hit by southwest monsoon, cyclones
July 29, 2025 MANILA – With more than six million Filipinos still reeling from the aftermath of strong rains and widespread flooding due to the southwest monsoon ('habagat') and tropical cyclones, some oil companies announced on Monday that they will be effecting a price freeze in affected areas. Starting on Tuesday, the prices per liter of gasoline will rise by 10 centavos, diesel by 60 centavos, and kerosene by 40 centavos. Seaoil, Petron and Jetti Petroleum, however, said in separate advisories that there will be no price increase in selected provinces in Luzon and the Visayas. For Jetti Petroleum, fuel prices will remain the same in Pangasinan, Pampanga, Bataan, Metro Manila, Cavite, Rizal, Bulacan, Oriental Mindoro, and Negros Occidental. Petron will also defer the price hikes in La Union, Ilocos Sur, Pampanga, and parts of Pangasinan, while Seaoil said the price adjustments will not cover Regions 1 and 2. Still rising The Department of Agriculture (DA) reported on Monday that damage to the country's farm sector continued to rise due to the combined effects of the habagat and tropical cyclones, hitting P2.34 billion so far. The figure represents a 27.17 percent increase from the P1.84 billion worth of losses it reported on July 27. A total of 74,895 farmers and fishers in the following regions were affected: Cordillera, Ilocos, Cagayan Valley, Central Luzon, Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon), Mimaropa (Mindoro, Marinduque, Romblon and Palawan), Bicol, Western Visayas, Central Visayas, Zamboanga Peninsula, Northern Mindanao, Davao Region, Soccksargen, and the National Capital Region. Rice accounted for 54.49 percent, or P1.27 billion of the total losses, as well as corn, cassava, high-value crops, fisheries, livestock and poultry, and agricultural infrastructures. 'Further damage and losses are expected in affected regions as assessment and validation [are] ongoing,' the DA said. Agriculture Assistant Secretary Arnel de Mesa said last week that the department is not anticipating a surge in the prices of food items, including vegetables. Even so, the DA has lined up various assistance programs to fast-track the sector's recovery and rehabilitation of farmlands, including prepositioning P653.01 million worth of agricultural inputs, including seeds, seedlings, and pesticides, for distribution through its regional field offices.
