Figaro Coffee Group Continues Quarterly and Annual Growth in 2023

Angel’s Pizza and Figaro Coffee Dau, Mabalacat City, Pampanga.

The Figaro Coffee Group, a stalwart in the Philippine food and beverage industry, proudly presented its quarterly financial report for the period spanning October 1 to December 31, 2023, demonstrating robust growth and a solid financial standing. The company saw improvements in top-line sales, bottom-line margins, enhanced store operations, strengthened commissary capacities, and laid the groundwork for further growth in the future.

Amidst the challenges of an inflation-laden year, 2023 emerged as a banner year for the company. For the quarterly period ended Dec 31, 2023, the company achieved revenues of P1.45 billion, a 42% increase versus same period last year. Net income for the quarter also registered at P195 million, a 7.2% increase from same period of last year.

For the full year 2023 from January to December, the company achieved total revenues of P5 billion, marking a significant increase of P1.8 billion, from P3.2 billion in the same period of 2022, achieving an impressive 55% growth in revenues and remarkable net profit margin of 10% or P480.4 million, 84% higher compared to the same period in 2022.

The Group achieved an all-time high total store count, ending 2023 with 203 total stores which were composed of 64 Figaro Coffee stores, 124 Angel’s Pizza stores, 10 Tien Ma’s Taiwanese cuisine stores, 1 Koobideh Kebabs store and 4 Cafe Portofino stores. In 2023, the company opened a total of 68 new stores.

Mr. Pet Español III, FCG’s Chief Financial Officer, emphasized, “Despite global inflation challenges, FCG navigated 2023 successfully. The company optimized key expenses, reducing cost of goods sold(COGS) to 32% from the previous year’s 38%. The strategic management of financing costs, improving efficiencies and utilizing economies of scale was instrumental in softening negative effects posed by inflationary pressures.

The company is positioned to continue growth of its stores and brands nationwide to further expand its presence in the Philippines.

Written by Village Connect

In a world where free quarterly print and online publications rule, Concept and Beyond Publishing (formerly, Tesmarias Publishing) a publisher of Village Connect (VC) stands out as a pillar and a trailblazer, raising the bar for complimentary magazines with quality reads that are tailored to discriminating Filipino urbanites.

As a print and digital publication, VC strives to provide readers an insightful glimpse into the ever-changing business landscape through relevant dialogue and inclusive coverage of trending news, information, and lifestyle tidbits within (and outside) the metropolis.

On a bigger scale, VC identifies and promotes Philippine innovations in various industries and connects them with Manila’s young and upbeat populace.

Since its founding in 2011, VC emerged as a household and business name, with a monthly circulation of 50,000 copies distributed FREE in Metro Manila, VC is targeted toward select villages, multi-dwelling outfits (condominiums, serviced apartments), banks, and lifestyle facilities including salons, wellness institutes, and beauty and fitness centers. It is also exclusively carried by Figaro Coffee Shops in Metro Manila – truly living up to its goal of connecting villages and businesses.

“Get Connected and Join the Conversation”

Connecting villages to the urban world where villages and businesses come together. Your information hub for urban and corporate living.

Should you have further queries, please feel free to contact us at the telephone number, (02) 7255-1092 or mobile numbers: (0916) 704-7815 or (0939) 592-7990 or visit our website:

Leave a Reply

Your email address will not be published. Required fields are marked *



Thailand Week 2024: Showcasing Thai Excellence in Glorietta, Makati

Mr.Diy Philippines: Trailblazing the Retail Platform with 500 Stores Strong