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GMA Network
3 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
GMA Network
28-07-2025
- Business
- GMA Network
PNB H1 2025 net income up 22%
The Philippine National Bank (PNB) reported Monday a 22% increase in its net income for the first six months of the year, driven by the growth in its net interest income and net service fees and commissions during the period. PNB said its consolidated net income stood at P12.5 billion in the first half, as net interest income grew 7% to P25.8 billion with loans up 5% and investment securities by 10%. Deposit transactions, credit cards, and PNB's bancassurance business brought net service fees and commission income up 8% to P2.8 billion. Gains from trading securities and foreign exchange operations rose 64% to P1.4 billion, while operating expenses increased by 9% as revenue growth translated to higher business taxes and other business-related expenses. "The double-digit growth in profitability is a clear indication that the various strategic initiatives that were put in place are gaining traction," PNB President and Chief Executive Officer Edwin Bautista said in an emailed statement. "We are excited to unlock new revenue streams to boost our net income as we continue to explore the use of technology, including data science and AI, in our businesses as well as force strategic alliances with partners that will add value to our products and services," he added. PNB ended the first half with P1.29-trillion worth of assets, while deposit liabilities breached the P1-trillion mark made up mainly of low-cost CASA (current accounts and savings accounts) for the first time. Shares in PNB were last trading at P67.50 apiece, up by P4.70 or 7.48% from last Friday's finish of P62.80 per share. — VDV, GMA Integrated News
