Figaro Bares Financial Highlights
Figaro Coffee Systems, Inc. (FCSI), a 100% subsidiary of a publicly listed firm holding company, Figaro Coffee Group, Inc. (FCG), based on unaudited figures, registered a robust performance in 2021 breaking their all-time Revenue and Profitability records.
Photo Insert: The Figaro Group registered a robust performance in 2021 breaking their all-time Revenue and Profitability records.
In 2021, Figaro Coffee Systems, Inc, registered Total Unaudited Revenues of P2,010,758,621, a 253% revenue performance versus Audited 2020 revenue level of P794M.
This was brought about by the surge in the delivery sales of Angel's Pizza (AP) and the net opening of 18 stores for the year 2021, or about 20% increase in their store network, bringing the total store network to 108 stores as of the end-December 2021 from 90 stores in 2020.
Again, this was an all-time record of the number of store openings in a single year.
Likewise, Unaudited Net Income Before Tax (NET) in 2021 achieved a 274% performance versus its 2020 level at P424.6M from P155.1M Audited NIBT of 2020. This was brought about by the revenue increase and the improvement in gross margins from 59% in 2020 to 65% in 2021.