Figaro Coffee Group Inc. said it expects sales to further accelerate over the next three to five years as the company continues to roll out more stores.
Figaro said during a recent investors briefing it registered a 56-percent growth in sales in the first half of 2021 to P1.33 billion from P853 million a year ago on the back of high delivery sales.
It said that over the next three to five years, growth would be much faster as it aims to open more outlets using proceeds from the upcoming initial public offering.
The company said its store expansion is more focused on the rollout of Angel’s Pizza stores, which has been its revenue driver for the past couple of years.
The group looking expand the brand outside Metro Manila. Jenniffer B. Austria
