The Figaro Coffee Group Inc. said it is on track of its expansion plans.
The group now operates 192 store chains – 60 Figaro Coffee stores, 116 Angel’s Pizza outlets, 10 Tien Ma’s locations, and six Café Portofino establishments. It looks to open stores in Laguna, Pampanga, Rizal, Cebu, Pangasinan, Bohol, Ormoc, and Davao for the rest of the year.
The company said in a statement the expansion helped grow its revenues by 75 percent as of the first half of the year, at 167 stores at that time.
“This expansion was complemented by a 6-percent increase in same-store sales compared to the previous year, driving total revenues to a substantial P4.28 billion, up from P2.44 billion in the same period the year before,” the company said.
Profit was at P462.6 million, a 133 percent increase from P198.2 million.
“The Figaro Coffee Group remains firmly poised for growth in the coming years, with ample funding for capital expenditure requirements, strong margins, and positive projections in terms of transaction counts and same-store sales percentage,” it said.
The company said the P820 million equity infusion from Monde Nissin will further help the company grow.
Figaro Coffee Group looks forward to the contribution of new product offerings of Angel’s Pizza , the strongest brand under the umbrella.
These offerings include the Creamy Spinach Sushi Bake Pizza which has become second best-selling pizza just behind the iconic Creamy Spinach Dip Pizza.
