D&L Industries Inc., a listed manufacturing company, said Wednesday 2022 net income rose 26 percent year-on-year to a record high P3.3 billion as margins on commodity and high-margin specialty products, or HMSP, reverted to pre-pandemic levels.
It said margin on HMSP, which are customized products for customers, rose 6.4 percentage points while that for commodity was up 4.5 percentage points in the fourth quarter. HMSP account half of group revenue.
D&L has interests in the customization of products for customers, development and manufacturing of food ingredients, colorants, additives, engineered polymers, aerosol products, oleochemicals, resins and powder coating.
D&L said its Batangas plant, which sets up the next leg of growth for the company, is set to start commercial operations by the middle of this year.
