Prospering in the pandemic: Figaro sets all-time records as profit, revenue soar in 2021

Aggressive retailer rollout and a surge in provide product sales of Angel’s Pizza propelled Figaro Espresso Techniques Inc.’s (FCSI) net earnings and revenues for 2021 to the perfect diploma.

FCSI is a completely owned subsidiary of Jerry Liu’s restaurant chain Figaro Espresso Group Inc.(FCG), which incorporates Angel’s Pizza, Figaro Espresso, Tien Ma’s, TFG Specific and Cafe Portofino.

In a regulatory submitting, FCG talked about FCS delivered a report effectivity remaining yr with unaudited earnings surging 274 % to P424.6 million remaining yr.

Revenues higher than doubled to hit an all-time extreme of P2.01 billion, largely pushed by its sturdy pizza product sales and the opening of 18 new outlets which was 20 % higher than the sooner yr.

This brings the group’s full retailer neighborhood to 108 as of end-December from 90 outlets. This was an all-time report of the number of retailer openings in a single yr.

Gross margins grew from 59 % in 2020 to 65 % in 2021.

For this yr, FCG plans to open 41 new branches all through its producers: 29 Angel’s Pizza, 6 Figaro Specific, 5 Figaro Espresso and 1 Tien Ma’s.

5 Angel’s Pizza outlets are set to open doorways throughout the first quarter. These are located in Lipa, Batangas; Hanston Constructing in Ortigas Heart; Cebu Metropolis; Calamba, Laguna and Avida Towers Cityflex in Bofancio World Metropolis.

As of January 21, FCG had an entire of 109 outlets.