Revenues grew 5 percent to P5.67 billion, lifted by a 15.5 percent jump in store count to 238 nationwide, driven largely by Angel’s Pizza, which accounted for nearly all new openings, its latest annual report showed.
Still, same-store sales or those from older branches slumped 7 percent, showing that while new outlets fueled growth, existing ones earned less amid slower consumer spending.
“In the next 12 months, we plan to expand our company-owned stores,” the company said in its latest annual report.
“We plan to focus on Angel’s Pizza in NCR, Bulacan, Laguna, Cavite, Pampanga, and Batangas; Figaro Coffee in Metro Manila malls, hospitals, and CBDs; and Tien Ma’s in NCR—all to be funded through internally generated funds,” it added.
Figaro turned to loans to secure discounts, fund expansion
To support its expansion, Figaro tripled its borrowings to P1.52 billion, raising interest expenses to P105.2 million but allowing the company to secure bulk discounts and sustain growth momentum.
Gross profit improved to P2.53 billion, though margins narrowed to 45 percent from higher input and labor costs.
Despite tighter margins, Figaro maintained an 11 percent net income margin, reflecting steady execution in a challenging environment.
Store network expansion
The Figaro Group expanded its total store network by 16 percent to 238 outlets as of June 2025, from 206 the previous year.
Angel’s Pizza led the charge with 30 net new openings, growing its footprint from 127 to 157 stores and accounting for nearly all of the group’s expansion. Figaro Coffee added one branch to reach 61 locations, while Figaro Express doubled to 11 sites as part of its small-format rollout
—Edited by Miguel R. Camus
