Dining chain Max’s posts 32 per cent profit lift
Philippine casual-dining chain Max’s has posted a net income of PHP118.5 million (US$2.25 million) for the third quarter.
The figure represents a 32 per cent jump over the same period last year.
The firm’s sales have grown 9 per cent during the period to PHP13.8 billion ($262.56 million), and restaurant sales have also increased 9 per cent to PHP8.3 billion ($157.9 million) following the launch of 38 new stores, taking the company’s total store network to 681 outlets.
Max’s president and CEO Robert Trota said: “We managed to extend our momentum from the second quarter into the subsequent period by centering on improving productivity measures and operational performance across the business. We plan to carry a similar mindset and at the same time ramp up new store openings ushering into the Christmas season.
“Accordingly, we are determined and confident in our ability to finish the year on a strong note while putting ourselves in a unique position to grow further come 2019,” he concluded.