Max’s Group Inc., the largest casual dining restaurant group in the country, said Monday that net income last year increased 38 percent year-on-year to an all-time high P622 million, aided by strategies developed and executed during the course of the pandemic.
“Our commitment to our stakeholders is to not only recover during the pandemic but come out stronger,” said Max’s chief executive officer Robert Trota. “Despite the challenges that the organization has faced since the first lockdown in 2020, our business model has been tested and proven, with consistency of executed strategies as evidenced in our recovery.”
Dine-in brands Max’s Restaurant and Pancake House secured a significant boost in sales as restrictions continued to relax, while off-premise brands Yellow Cab Pizza Co. and Krispy Kreme sustained their pandemic-proofed resilience.
The commissioning of its consolidated commissary further strengthened Max’s manufacturing capabilities and expanded the Group’s growth potential into manufacturing and its food retail and business to business (B2B) segments as an adjacency to its core. MGI products are already present in supermarkets and convenience stores. This segment is gaining traction as Max’s aims to be a leader in the growing food retail category to supplement its core restaurant and commissary businesses.
Systemwide sales from both company-owned and franchised stores for the full year amounted to P17.60 billion, growing 41 percent while total revenues surged 44 percent to P10.98 billion.
