Food and beverage holding company Figaro Coffee Group Inc. (FCG) posted a 17 percent growth in net income to P103.5 million for the first quarter of its fiscal year ending June 30, 2025.
In a disclosure to the Philippine Stock Exchange (PSE), the firm said its strong momentum in fiscal year 2024 continued into the first quarter (July to Sept.) of 2024 with revenues rising by six percent to P1.39 billion.
The group achieved a healthy net profit of P628.4 million for fiscal year 2024, a 36 percent increase compared to the previous fiscal year.
FCG reported a 27 percent growth in consolidated revenues to P5.45 billion for the fiscal year ending June 30, 2024 compared to P4.28 billion for the same period last year.
This was largely propelled by a record 57 new store openings—80 percent of which were Angels Pizza stores. 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.
FCG’s Chief Financial Officer Jose Petronio 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,” he explained.
"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,” said FCG Chairman Justin Liu.
FCG’s store expansion strategy continues to focus on well-executed operations, as well as meeting the demand for high-quality and convenient food options for Filipino consumers.
“With solid financial performance and operational efficiencies, FCG is well-positioned for future growth as it builds on the success of its diversified brand portfolio.” Liu said.