Philippines’ Figaro Coffee Group income soars over 100% in 2022

Its net income stood at P198.2m ($3.26m). 

Philippine-based Figaro Coffee Group posted a net income growth of 111% to P198.2m ($3.26m) in the full year ending in June 2022. 

Over the same period, the company also saw its top-line sales deliver some P2.43b ($41.25m), reflecting an increase of 80%.

“We are seeing dine-in sales increasing on our Figaro Coffee and Tien Ma’s brands while delivery continues to be strong for Angel’s Pizza,” Justin Liu, FCG Chairman, said. 

Read more: From brewing beans to kneading doughs: Figaro Coffee Group finds niche in pizza delivery services

In light of this growth, the company declares cash dividends worth P90m ($1.5m), or P0.01936 per share. 

“Because of our excellent performance, we are very happy to be able to share profits with our shareholders through dividends. Our philosophy is, if the company does well, we would like our shareholders to benefit also,” Liu said. 

Since the start of the year, Figaro Coffee Group has opened 35 new stores to its network, in line with its target to reach 163 stores by the end of 2022.