SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Aug 3, 2016

2. SEC Identification Number

44852

3. BIR Tax Identification No.

000-421-957-000

4. Exact name of issuer as specified in its charter

D & L Industries, Inc.

5. Province, country or other jurisdiction of incorporation

Metro Manila

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

65 Industria St., Bagumbayan, Quezon City Postal Code 1110

8. Issuer's telephone number, including area code

(02) 6350680

9. Former name or former address, if changed since last report

Not Applicable

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common	7,142,857,990

11. Indicate the item numbers reported herein

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The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

D&L Industries, Inc.DNL

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Clarification of news report “D&L sees double-digit growth in 2016”

Source	Business World Online
Subject of News Report	“D&L sees double-digit growth in 2016”
Date of Publication	Aug 2, 2016

Clarification of News Report
We refer to your letter dated August 3, 2016 seeking clarification and/or confirmation of the news article entitled "D&L sees double-digit growth in 2016", posted in Business World Online on August 2, 2016. The article reported in part that: “D&L Industries, Inc. raised its profit guidance for 2016 given strong financial results from the first six months, with a double-digit growth seen moving forward as the company exports more food products to Asia and the Pacific through Ventura Foods LLC. The listed company is now targeting a 15% to 19% increase in net income from the P2.28 billion recorded last year, its President and Chief Executive Officer Alvin D. Lao told reporters during a briefing in Makati City on Tuesday. ‘Our guidance at the beginning of the year was 10% growth in net income. With the better performance we’ve seen in the second quarter and the first half, we’re revising our guidance upwards,’ Mr. Lao said. ‘So, we’re now targeting mid to high teens growth for our net income for this year and as long as the economy looks like it’s going to be strong, which looks like it’s being helped by the improved political environment, then we may be able to maintain that even after this year,’ he added. . . . . D&L incurred P145 million in capital spending in the first six months. By the yearend, it will likely have spent 10% to 20% more than last year’s P257 million, mostly for acquisition of new equipment, Mr. Lao said. The company is looking at putting up bigger production plants outside the National Capital Region, which would employ 300 to 500 within the next five years. D&L prefers to finance its planned expansion with debts rather than proceeds from share placements, given it has enough room for more borrowings and the low interest environment, Mr. Lao noted. ‘If you look at our debt level, our debt level is still quite low. What it means is that we can still borrow a lot more and still be within a comfortable range as far as debt capacity or ability to pay interest expense,’ he said. . . . .” We confirm the quoted news report. Thank you.
Other Relevant Information
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