Max’s Group reports 12% jump in net income P562M
Max’s Group Inc. today reported a 12-percent growth in its net income in 2016 to P562 million with the robust growth in online and delivery revenues and the steady growth in restaurant sales.
In a disclosure to the stock exchange, Max’s Group said its restaurant sales expanded by 10 percent to P9.4 billion from P8.6 billion a year ago and online and delivery revenues growing by 24 percent to P1.1 billion from P875 million a year ago.
Max’s Group opened 77 new stores last year.
The company said revenues from new franchises, royalty, and continuing license fees soared by 54 percent to P767 million, driven by a growing recurring income base and additional overseas franchise contracts.
“We are fairly upbeat with our full year performance. We were able to successfully execute our strategies amidst a rapidly intensifying competitive environment. Overall, it was another productive year for us,” Max’s Group president and CEO Robert F. Trota said.
Max’s Group now has 623 branches, 49 of which are overseas.
Among the restaurant chains in the group are Max’s Restaurant, Pancake House, Yellow Cab Pizza, Krispy Kreme, Jamba Juice, Max’s Corner Bakery, Teriyaki Boy, Dencio’s, Meranti, Sizzlin’ Steak, Maple, Kabisera, Le Coeur De France and Singkit.