Philippines businesses start to feel benefits of economic recovery, lower alert level

Some companies in the Philippines have already felt the benefits of the recovery in the domestic economy and implementation of a lower alert level on businesses. Food ingredients and plastics manufacturer D&L Industries president and chief executive officer Alvin Lao said that should there be no new variant that will cause restrictions, companies whose performances are correlated with the economy “should see quite good performance” this April to June period and the rest of the year. D&L Industries grew its earnings by 12% in the first quarter of the year despite the imposition of stricter quarantine measures. The company also remains committed to its expansion facility in Batangas province which is deemed to come at an “opportune time” given the recovery in the domestic economy and the company’s growing export business.