Store expansion lifts Figaro 2023 profit

By Brix Lelis

May 11, 2024 12:15 am

FIGARO Coffee Group saw its net income expand 84 percent year on year to P480.4 million for the calendar year 2023, anchored on continued store expansion and prudent cost management.

In a disclosure on Friday, the food and beverage firm said total revenues last year jumped 55 percent to P5 billion from P3.2 billion as internal operations were optimized amid inflationary pressures.

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