Figaro Coffee Group Inc. grew its profit in fiscal year ending June 2022 by 111 percent to P198.2 million from P939,336 last year driven by continuous strong store growth.
Sales reached P2.43 billion, an increase of 80 percent from P1.35 billion last year.
The company said it improved its gross margins to 49 percent from 44 percent through economies of scale and cost synergies. This led for return on equity to hit 13.5 percent.
“We are very pleased to report that coming out of the pandemic and our initial public offering early this year, we have continued our excellent growth and positive momentum.
We are seeing dine-in sales increasing on our Figaro Coffee and Tien Ma’s brands while delivery continues to be strong for Angel’s Pizza. We continue to focus on product quality, value-for-money and expansion in key areas in the Philippines,” said Justin Liu, Figaro Coffee Group chairman.
