Figaro Coffee Group Inc. (FCG) said it closed the first half of its fiscal year with a net profit of P325.53 million, up 15 percent from P282.93 million the previous year.
Figaro’s fiscal year ends in June 2025.
In a statement on Tuesday, the company said revenues grew by 2.53 percent to P2.83 billion between July and December 2024 from P2.76 billion in the same months in 2023.
Jose Petronio Vicente Espanol III, FCG chief finance officer, said for the second quarter of its fiscal year, profit rose by 14 percent to P222.04 million from P194.74 million, while revenues were relatively flat at P1.44 billion compared to the previous year’s P1.45 billion.
“Revenues remained steady at P1.44 billion, closely aligned with last year’s performance. While global inflation pressured raw material costs, we successfully managed overhead and operating expenses while increasing capacity,” Espanol said.
Justin Liu, FCG chairman, said the company is “looking forward to continuing prudent expansion strategy together with launching more exciting and innovative menu items and promos this 2025.”
As of end-2024, FCG operated a network of 216 stores, comprised of 142 Angel’s Pizza, 63 Figaro Coffee, eight Tien Ma’s, two Café Portofino and one Koobideh Kebabs.
For the whole of 2024, FCG opened an additional 34 stores, of which 28 were Angel’s Pizza branches and the rest were new Figaro Coffee stores.
“With total assets reaching P5.47 billion, FCG remains well-positioned for continued growth in 2025, reinforcing its commitment to expansion, operational efficiency, and financial resilience,” Liu said.
