Figaro Coffee Group continues quarterly, annual growth

THE Figaro Coffee Group, a stalwart in the Philippine food and beverage industry, proudly presented its quarterly financial report for the period spanning Oct. 1 to Dec. 31, 2023, demonstrating robust growth and a solid financial standing.

Figaro Coffee Group continues quarterly, annual growth

The company saw improvements in top-line sales and bottom-line margins, enhanced store operations, strengthened commissary capacities and laid the groundwork for further growth in the future.

Amid the challenges of an inflation-laden year, 2023 emerged as a banner year for the company. For the quarterly period ended Dec. 31, 2023, the company achieved revenues of P1.45 billion, a 42-percent increase versus the same period last year. Net income for the quarter also registered at P195 million, a 7.2-percent increase from the same period last year.

For the full year 2023 from January to December, the company achieved total revenues of P5 billion, marking a significant increase of P1.8 billion from P3.2 billion in the same period of 2022, achieving an impressive 55-percent growth in revenues and a remarkable net-profit margin of 10 percent or P480.4 million, 84 percent higher compared to the same period in 2022.

The group achieved an all-time high total store count, ending 2023 with 203 total stores, which were composed of 64 Figaro Coffee stores, 124 Angel’s Pizza stores, 10 Tien Ma’s Taiwanese cuisine stores, 1 Koobideh Kebabs store and 4 Cafe Portofino stores.

In 2023, the company opened a total of 68 new stores.