Max’s Group plans up to 30 new outlets this year
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Max’s Group plans to open up to 30 more stores this year, buoyed by a solid jump in first half profit on the back of network expansion.
The casual restaurant chain operator announced Tuesday its total sales rose 12 per cent to P8.29 billion for the first six months – profit rose by the same percentage, to P331.72 million. Max’s opened 41 new stores during the period, including six overseas, taking its total network to 650, 53 of those offshore. Yellow Cab Pizza is the star performer, especially offshore, where the company has two new development contracts to open at least 22 outlets in Vietnam, Malaysia and Brunei within the next five years.
Max’s Group’s other brands include Pancake House, Sizzlin’ Steak and Max’s Restaurants.
Revenues from new franchises as well as royalty and continuing license fees grew 23 per cent to P333.65 million in the first half.
“We are happy with the results despite an increasingly challenging environment,” said MGI president and CEO Robert Trota. “Moving into the next quarter, we have lined up exciting product initiatives to cushion cyclicality effects during wet season.”
Questions & Answers
Q.How many new stores does Max's Group plan to open this year?
How many new stores does Max's Group plan to open this year?
Max's Group plans to open up to 30 new stores this year. This follows the 41 new outlets they opened in the first six months, which contributed to their network expansion and profit growth.
Q.Which of Max's Group's brands is performing particularly well?
Which of Max's Group's brands is performing particularly well?
Yellow Cab Pizza is highlighted as the star performer among Max's Group's brands. Its performance, particularly overseas, is strong, with new development contracts secured for expansion in Southeast Asia.
Q.What were Max's Group's total sales and profit for the first six months?
What were Max's Group's total sales and profit for the first six months?
Max's Group reported total sales of P8.29 billion for the first six months of the year. Profit for the same period rose by 12 per cent to P331.72 million, driven by network expansion.
Q.What is the reason given for the company's planned product initiatives?
What is the reason given for the company's planned product initiatives?
The company is planning product initiatives to cushion the effects of cyclicality during the wet season. This strategy aims to maintain performance, especially as they move into the next quarter.
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