Max’s sizzles back in the black
Max’s Group Inc. turned around its performance in 2015 to post a P501.4-million net income from a loss of P66.2 million in 2014 and is confident that it is all seasoned for growth.
“The results validate a complete turnaround of our business,” Max’s Group president and CEO Robert Trota said in a disclosure to the stock exchange. “From a transformative period in 2014, we have successfully transitioned to the growth phase. We are confident with our strategies to sustain this trajectory in the coming years.”
Max’s Group opened 84 stores last year across the brands Max’s Restaurant, Pancake House, Yellow Cab Pizza, and Krispy Kreme, bringing its network to 588 stores including 35 overseas.
Max’s Group worked on maximizing synergies across its brands last year, allowing it to negotiate better prices and terms with suppliers for its raw materials. It also modernized its equipment to improve production.
It introduced mobile ordering applications for Krispy Kreme and Yellow Cab Pizza that gave it a new revenue channel.
“There were certain delays encountered in our roll out schedule beyond our control. Nevertheless, full revenue impact of our new stores is expected to be realized this year,” Trota said. (Eileen A. Mencias)