MAX’S GROUP INCOME GROWS 12% TO P626.7M

CASUAL dining chain operator Max’s Group Inc. ( MGI) posted 12 percent higher earnings in 2017, buoyed by double-digit growth in its systemwide sales.

In a disclosure on Friday, MGI said net income last year reached P626.69 million versus the P561.74 million registered in 2016.

Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at P1.24 billion.

Systemwide sales increased 13 percent to P17.34 billion from P15.34 billion the year before. Topline and restaurant sales both climbed 11 percent to P12.66 billion and P10.46 billion, respectively.

“[This was] driven by sustained same store sales performance and revenue contribution of new stores,” it said.

MGI noted its delivery business realized 27 percent growth to P1.37 billion on improved online ordering channels and delivery infrastructure. Same store sales achieved 5 percent growth and a 13 percent increase in overall transaction count.

Robert Trota, president and the company witnessed a growth momentum last year as it boosted its operations “through a renewed focus on franchising.”

“[ S] trengthened franchising operations contributed to the 13% increase in commissary sales of P1.42 billion from P1.26 billion,” MGI said.

MGI said it would continue to focus on the franchising-led business model to further expand its presence in the market alongside plans to launch 80 to 90 new stores this year.

The company opened 78 new outlets last year, 14 of them overseas. It currently has 673 stores worldwide, with 55 located in various cities in North America, the Middle East, and Asia.