D&L Industries, the country’s largest specialty food ingredients, plastics and oleochemicals company, is currently participating in a vaccination campaign initiated by the Quezon City Local Government Unit (LGU).
In a statement, the company said the goal of the vaccination campaign is to speed up the vaccination of more Filipinos as soon as possible.
As part of the partnership, the Quezon City LGU provided vaccines and on-site supervision provided by Ever Gotesco, while D&L contributed to the medical team.
The partnership has run three weekend immunization campaigns so far and plans to organize new immunization schedules in the coming weeks, as more vaccines become available.
âWe fully support this initiative by Mayor Joy Belmonte and the Quezon City local government. We find the partnership very innovative and responsive to the needs of our people during this pandemic, âsaid D&L President Alvin D. Lao.
He added, âWe would like to express our deep gratitude to Mayor Joy and the government of Quezon City for giving us the opportunity to be of service to the public. We would also like to thank Ever Gotesco for providing the venue and staff support. By working together, we can get more people immunized as quickly as possible. “
With D & L’s crucial role in the Philippine manufacturing industry, supplying essential chemicals for food and sanitation, its employees, who have reported regularly to work since the start of the pandemic, are considered economic pioneers and were among those who were vaccinated during the vaccination campaign.
A limited number of economic pioneers from D&L and Ever Gotesco were housed during the morning sessions of the campaign while the afternoon sessions were fully dedicated to priority groups in Quezon City communities.
âWe are making serious efforts to educate our employees on the benefits of getting vaccinated. As a result, an overwhelming majority of them are now inclined to be vaccinated. With an increasing number of our employees vaccinated, we hope to develop herd immunity, at least within the company, over the next two months, subject to the availability of vaccines. We see this as an active role to help end the pandemic, âLao added.
While the pandemic is still ongoing, D&L believes it is now in a much better position to thrive in an unfavorable environment and a potentially prolonged period of economic recovery.
As the majority of the products manufactured by the company go to basic essential industries such as food, oleochemicals, plastics and cleaning chemicals, the company anticipates continued strong demand to come.
With all of the company’s business segments showing a significant year-over-year recovery in the first quarter of 2021, recurring net profit for the period increased 35% year-over-year to reach 695 million pesos.
Including a one-time gain of 29 million pesos related to the retroactive implementation of the CREATE law in 2020, total net income for the quarter was 724 million pesos, up 41% year-on-year.
Assuming first quarter 2021 revenue holds over the next two quarters, the company should at least hit its net income level in 2019.
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