Figaro nets P628M, up 38%

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FIGARO Coffee Group Inc. (FCG) said it closed the first nine months of the year with a profit of P628.4 million, up 36 percent from last year’s P462.06 million. 

Revenues reached P5.45 billion, up 27.33 percent from P4.28 billion last year. 

“This was largely propelled by a record 57 new store openings—80 percent of which were Angels Pizza stores,” the company said.

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Pet Español III, FCG chief financial officer, highlighted the company’s ability to improve gross margins from 45 percent to 47 percent despite inflationary challenges. “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,” Español said.

Operating expenses were maintained at 35 percent of revenues. 

The company expanded its store network from 167 to 206 locations by June 2024.

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