Max’s Group Inc. grew its profit by 14.8 percent to P724.23 million last year, from P631.14 million the prior year.
Revenues rose 5.3 percent to P14.4 billion, from P13.68 billion in 2018, while system-wide sales increased 7 percent to P20.11 billion, from P18.8 billion the prior year.
“Restaurant sales amounted to P11.79 billion, a 4.4 percent improvement from the P11.30 billion reported in the same period last year,” the company said.
Due to its rapidly growing franchise base, Max’s Group said commissary sales increased 13.6 percent to P1.78 billion from P1.57 billion. Franchising and other revenue marginally grew by 1 percent to P828.92 million, from P820.41 million in 2018.
Max’s Group said its partnerships with food aggregators helped boost its delivery results which, combined with its in-house delivery operations, posted a systemwide delivery sales of P1.87 billion, up 20.4 percent from P1.55 billion in 2018.
Robert Trota, Max’s Group president, said the result “demonstrates the success of our strategies to focus on our core business and spur long-term expansion through franchising.”
“Our continued investment in our commissaries also marshals the integration and modernization of our operations. We are cognizant of the headwinds in the current business environment and assure the investing public that our teams are well-equipped to sustain levels of service and profitability,” Trota said.
Ariel Fermin, Max’s Group chief operating officer, said following a year where the company invested in its brands to drive mainstream relevance, the focus now is to deliver on the increased demand.
In 2019, Max’s Group opened a total of 82 new stores including 22 overseas. This brings its total store network to 760 locations, with 70 situated across various locations in North America, Middle East and Asia.
