Figaro H2 income surges as store network expands

Figaro Coffee Group Inc., an operator of cafes and a number of restaurants, said its income in the second semester of 2022 rose 47 percent to P265.11 million from the previous year’s P179.62 million.

Systemwide sales from July to December grew by 79 percent to P2.05 billion from P1.14 billion in the same period in 2021.

“This was brought about by the opening of stores which brought the total number of stores to 150 by the end of December 2022. This resulted to an 88-percent increase in revenues versus same period last year,” the company said.