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Manila, Philippines – The Figaro Coffee Group , a leader in the Philippine food and beverage sector, proudly unveiled its financial results for its fiscal third quarter ending March 2024.
For the calendar year January to December 2023, FCG achieved a landmark revenue of PHP 5 billion, marking a 55% increase over the previous year’s PHP 3.23 billion. The company ended 2023 with a net income after tax of PHP 480.38 million, an increase of 84% compared to same period in the previous year. This was achieved through manag ing inflationary pressures by optimizing internal operations which controlled overhead and operating expenses.
In 2023, FCG likewise launched its first casual-dining kebabs brand, Koobideh Kebabs in Ma kati, serving beef and chicken kebabs and other middle eastern side items. FCG ended 2023 with a total of 203 stores, broken down to 124 Angel’s Pizzas stores, 64 Figaro Coffee stores, 10 Tien Ma’s Taiwanese stores, 4 Cafe Portofino stores and 1 Koobideh Kebabs stores.
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