Figaro Coffee Group grows strong in 2024

Figaro Coffee Group, Inc. (FCG), the holding company behind popular food and beverage brands including Figaro Coffee, Angel’s Pizza, and Tien Ma’s Taiwanese Cuisine, announced a 27 percent growth in consolidated revenues, reaching P5.45 billion for the fiscal year ending 30 June 2024, compared to P4.28 billion for the same period last year.

This growth was largely driven by a record 57 new store openings—80 percent of which were Angel’s Pizza stores.

FCG’s Chief Financial Officer, Mr. Pet Español III, 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 explained.

In addition to top-line growth, the group achieved a healthy net profit after tax of P628.4 million, a 36 percent increase compared to the previous fiscal year.

Operating expenses were maintained at 35 percent of revenues, reflecting FCG’s focus on operational efficiency even as it expanded its store network from 167 to 206 locations by June 2024.

The strong momentum continued into the first quarter (July to September 2024) of FCG’s fiscal year 2025, with revenues rising by 6 percent to P1.39 billion and net income after tax growing by 17 percent year-over-year, reaching P103.5 million.

"At Figaro Coffee Group, I am incredibly proud of our team's dedication and the remarkable performance we’ve achieved this fiscal year. Our success is a testament to our unwavering commitment to operational excellence and delivering an outstanding experience to our customers," said Justin Liu, Chairman.

"As we look ahead, we remain focused on raising the bar, continually refining our standards, and ensuring every experience reflects the passion and quality that define us," he added.