Figaro posts strong growth despite inflation pressures

Listed Figaro Coffee Group, Inc. (FCG) capitalized on the surge in consumer spending during the last quarter of 2024.

In a stock exchange report released on Tuesday, the company reported a notable 12.4 percent year-on-year increase in net income before tax, which reached P291.8 million. 

FCG credited its growth to a combination of smart overhead management and its aggressive expansion strategy, which continues to fuel its market presence.

Notably, revenues for the quarter remained stable at P1.44 billion, matching the previous year’s performance despite ongoing inflationary pressures on raw material costs. 

“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,” FCG Chief Financial Officer Pet Español III said. 

The company’s total assets grew to P5.47 billion. Its liquidity also improved, with the current ratio rising from 1.19x to 1.50x.

Looking ahead, FCG plans to maintain its prudent expansion strategy while introducing more exciting and innovative menu items and promotions in 2025, according to Chairman Justin Liu.

As of year-end 2024, FCG operated 216 stores nationwide, including 142 Angel’s Pizza outlets, 63 Figaro Coffee locations, 8 Tien Ma’s branches, 2 Café Portofino outlets, and 1 Koobideh Kebabs store. 

Last year, FCG expanded its network by 34 new stores, with 28 Angel’s Pizza locations and 6 Figaro Coffee stores.