Figaro posts 15% growth in 6-month profit

MANILA, Philippines — Figaro Coffee Group Inc. posted strong profitability in the first half of its current fiscal year on the back of strengthened operational capabilities and expanded market presence.

The listed food and beverage firm reported an unaudited profit of P325.53 million from July to December 2024, up 15 percent from P282.94 million in the same period in 2023.

Revenues for the six-month period grew by 2.5 percent to P2.84 billion from the previous year’s P2.77 billion.

From October to December, Figaro’s net income after tax rose by 14 percent year-on-year to P222 million as a result of overhead cost management.

Consolidated revenues for the quarter ending December was flat at P1.44 billion from P1.45 billion in same period in 2023.

Figaro chief financial officer Pet Español III said the company was able to maintain financial stability amid economic challenges during the period.

“While global inflation pressured raw material costs, we successfully managed overhead and operating expenses while increasing capacity,” he said.

With total assets reaching P5.47 billion, Figaro said that it remains well-positioned for continued growth in 2025, reinforcing its commitment to expansion, operational efficiency and financial resilience.

Figaro closed 2024 with a total of 216 stores nationwide, composed of 142 under the Angel’s Pizza brand, 63 Figaro Coffee locations, eight Tien Ma’s branches, two Café Portofino outlets and one Koobideh Kebabs store.

“We are looking forward to continuing our prudent expansion strategy together with launching more exciting and innovative menu items and promos this 2025,” Figaro Coffee Group chairman Justin Liu said.