The Figaro Coffee Group (FCG), one of the Philippines' leading and beloved food and beverage chains. is expanding the presence of its brands in the provinces with store openings in at least eight provinces before the end of 2023.

In a press briefing, FCG Chairman Justin Liu announced the expansion of Figaro Coffee Group's portfolio of brands. 

As of 2023, the group operates 60 Figaro Coffee stores, 116 Angel's Pizza outlets, 10 Tien Ma's locations, and 6 Café Portofino establishments, a total of 192 stores. 

Liu said the firm has set its sights on new horizons, with upcoming store openings in Laguna, Pampanga, Rizal, Cebu, Pangasinan, Bohol, Ormoc, and Davao for the remainder of 2023.

He noted that, “The Figaro Coffee Group remains firmly poised for growth in the coming years, with ample funding for capital expenditure requirements, strong margins, and positive projections in terms of transaction counts and same-store sales percentage.”

To boost sales, Angel's Pizza, the strongest brand under the Figaro Coffee Group umbrella, launched the Angel's Pizza App, featuring ordering and payments system in an easy-to-use and friendly interface.

Angel’s Pizza, Figaro Coffee, and Tien Ma also introduced new product categories and as well as new dishes in established categories.

The Figaro Coffee Group reported earlier that its revenues surged by 75 percent in the first half of the year, primarily due to the extensive expansion and opening of 44 new stores during the period, bringing the total number of stores to 167. 

This expansion was complemented by a 6 percent increase in same-store sales compared to the previous year, driving total revenues to a substantial P4.28 billion, up from P2.44 billion in the same period the year before.

The group encountered a decline in gross margin, dropping from 49 percent to 45 percent in June 2023 largely due to global inflation affecting major raw materials, particularly within Angel's Pizza.

However, this was mitigated by careful management of overhead costs, maintaining operating expenses at 31.7 percent of sales, a notable improvement from the 38.8 percent ratio from the same period the previous year.

Despite these challenges, net income after tax witnessed an extraordinary 133 percent increase, soaring to P462.6 million from P198.2 million, driven by increased volumes and efficient cost management.