Figaro Coffee Revenues Rise By 27% To ₱5.45 Billion

Figaro Coffee Group, Inc. (FCG), the holding company behind popular food and beverage brands including Figaro Coffee, Angel’s Pizza, and Tien Ma’s Taiwanese Cuisine, reported a 27% growth in consolidated revenues, reaching P5.45 billion for the fiscal year ending June 30, 2024, up from P4.28 billion the previous year.

Highlighted was the company’s ability to improve gross margins from 45% to 47% despite inflationary challenges. I Photo: Figaro Coffee Facebook

This increase was largely driven by a record 57 new store openings, 80% of which were Angel’s Pizza locations.

FCG’s Chief Financial Officer, Pet Español III, highlighted the company’s ability to improve gross margins from 45% to 47% despite inflationary challenges.

“Through efficient cash management and collaboration with valued suppliers, we continue to maximize our operating cash flow. This disciplined approach helped offset global inflation pressures, enhancing our gross margins by two percentage points,” Español explained.

The group also achieved a healthy net profit after tax of P628.4 million, a 36% increase from the previous fiscal year. Operating expenses remained at 35% of revenues, reflecting FCG’s focus on operational efficiency even as it expanded its store network from 167 to 206 locations by June 2024.

The company continued its momentum into the first quarter of fiscal year 2025 (July to September 2024), with revenues rising by 6% to P1.39 billion and net income after tax growing by 17% year-over-year, reaching P103.5 million.

Chairman Justin Liu stated, “I am incredibly proud of our team’s dedication and the remarkable performance we’ve achieved this year. Our success is a testament to our commitment to operational excellence and delivering an outstanding customer experience. Moving forward, we are focused on refining our standards and ensuring every experience reflects the passion and quality that define us.”

FCG’s expansion strategy focuses on well-executed operations and meeting the demand for high-quality, convenient food options for Filipino consumers. With solid financial performance and operational efficiencies, FCG is well-positioned for future growth.