Figaro Coffee Group Inc. (FCG) closed the first nine months of the year with a profit of P628.4 million, up 36 percent from last year’s P462.05 million.
Sales were at P5.45 billion, up 27 percent from P4.28 billion last year, attributed to an aggressive expansion of stores.
For the period, the company opened 57 new store openings—80 percent of which were Angels Pizza stores.
Among FCG’s portfolio of brands are Figaro Coffee, Angel’s Pizza and Tien Ma’s Taiwanese Cuisine.
“Through efficient cash management and cooperation with valued suppliers, we continue to maximize our operating cash flow. This disciplined approach helped offset global inflation pressures, enhancing our gross margins by 2 percentage points,” said Pet Español III, FCG’s chief financial officer.
