Max’s income jumps 13% in H1

Max’s Group Inc. (MGI) reported a 13.7 percent rise in its net income to P377.3 million in the first half of the year, driven by the boost in systemwide sales.

In a disclosure to the Philippine Stock Exchange, MGI said systemwide sales increased by 4.7 percent to P9.7 billion from P9.3 billion in the same period last year.

Topline growth amounted to P7.0 billion, a 4.5 percent rise from the P6.7 billion reported in the same period last year.

Restaurant sales also improved by 2.1 percent to P5.7 billion from P5.6 billion a year ago.

MGI’s commissary sales as well as franchising and other revenue grew 7.6 percent to P860.1 million and 37.1 percent to P460.8 million, respectively during the period, driven by the rise in franchising operations.

The company opened a total of 28 new stores in the first half of the year, including six overseas branches.

This brings MGI’s total store network to 711 branches, with 57 situated across various locations in North America, the Middle East and Asia.

Meanwhile, online and delivery sales for the period jumped 13 percent to P845.5 million from P748.6 million driven the company’s continued partnerships with various online aggregators.

MGI said it continued to embrace partnerships with various online aggregators.

“We remain steadfast in our commitment to balance daily quality management with investments that will future-proof our business,”MGI president and chief operating officer Robert Trota said.

Trota acknowledged the changing food delivery landscape, and emphasized that the company welcomes these new channels that expand choice and convenience for our consumers.