Restaurant company Max’s Group on a roll
Philippine casual-dining restaurant company Max’s Group achieved a 12 per cent rise in net income last year to reach PHP626.7 million (US$12 million).
It attributes the growth to strong restaurant sales and the rollout of new stores. Max’s Group says systemwide sales rose 13 per cent to PHP17.34 billion.
Revenues increased 11 per cent to PHP12.66 billion, while restaurant sales climbed 11 per cent to PHP10.46 billion, driven by sustained same-store sales and the contribution of new stores.
The group’s delivery business posted significant growth of 27 per cent to PHP1.37 billion from efforts to broaden online ordering channels and upgrade delivery infrastructure. Same-store sales growth of 5 per cent and a 13 per cent increase in the number of transactions contributed to the group’s positive financial performance.
“Our brands ensured their relevance to today’s customers, and were undeterred in retaining their leadership positions in the casual-dining segment despite challenging market conditions,” says Max’s Group president/CEO Robert Trota.
“We are excited to gain a stronger foothold in the consumer foodservice industry as we continue to expand our business through a renewed focus on franchising.”
After opening 78 stores during the year, Max’s Group now has 673 branches, including 55 across North America, the Middle East and Asia.
MGI plans to roll out of 80 to 90 new outlets this year, primarily through franchising. It has allocated PHP600 million in capital expenditure this year to reinforce support services and fund the construction and renovation of select flagship stores.