Philippines' Figaro Coffee Group reports 36% surge in after tax net profit in 2024
The group’s growth was boosted by the expansion of its pizza business.
Figaro Coffee Group, Inc (FCG) reported a net profit after tax of $10.71m (₱628.4m) for the fiscal year ending 30 June 2024, a 36% increase compared to the year before.
FCG is a holding company for F&B brands including Figaro Coffee, Angel’s Pizza and Tien Ma’s Taiwanese Cuisine.
The group reported a 27% growth in consolidated revenues, reaching $93m (₱5.45b) for the
fiscal year ending 30 June 2024. This was largely propelled by a record 57 new store openings—80% of which were Angels Pizza restaurants.
Operating expenses were maintained at 35% 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 Sept 2024 of FCG’s fiscal year 2025, with revenues rising by 6% to $24m (₱1.39b) and net income after tax growing by 17% year-over-year, reaching $1.76m (₱103.5m)
“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. 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”, Justin Liu, Chairman of FCG said.
