Max?s sell like pancakes, net income soars in 2015
Restaurants under the Max?s Group Inc. sold like pancakes to chalk up a phenomenal P501.4-million net income last year from a loss of P66.2-million in 2014.
In a disclosure to the stock exchange, Max?s Group showed revenues from restaurant sales more than doubling, with commissary sales and fees from franchises and royalties almost tripling.
Aside from its flagship Max?s Restaurant, other brands under the group are Pancake House, Yellow Cab Pizza, Krispy Kreme, Jamba Juice, Teriyaki Boy, Dencio?s, Sizzlin? Steak, Singkit, Le Coeur de France, and Dencio?s among others.
?The results reflect a complete turnaround of the business. From a transformative period in 2014, the Company has successfully transitioned to the growth phase,? Max?s Group said.
The company launched its first shared-space dining concept dubbed Burgos Eats and Eco Eats last year in Bonifacio Global City and Makati City, respectively, bringing together its several brands for maximum exposure to diners.
Max?s Group capitalized on synergies within the group and worked on efficiencies, enabling it to negotiate better terms with its suppliers.
?For 2016, the Company is confident with the strategies in place to anchor its growth in the coming years,? it added. Max?s Group plans to open at least 60 stores going forward, including 15 to 20 stores overseas.
?Backed by a positive macroeconomic environment coupled with some lift from election spending, Max?s Group is poised to build its presence and solidify its position as the country?s leading full service chained casual dining operator,? the company said.