The Philippines’ Max’s Group posts 17-per-cent profit growth
Max’s Group (MGI) which operates restaurants under its own brand name, Yellow Cab Pizza, Krispy Kreme, Jamba Juice and Teriyaki Boy, has boosted net income to $14.43 million last year.
Fourth-quarter sales alone increased by 10.4 per cent to $108.55 million from $98.22 million the previous year.
System-wide revenue for the full year totalled $77.56 million, up 7 per cent year on year, to $392.07 million.
“Our performance demonstrates the success of our strategies to focus on our core business and spur long-term expansion through franchising,” said MGI president and CEO Robert F Trota. “Our continued investment in our commissaries also marshals the integration and modernisation of our operations.”
He said the company remains cognisant of the headwinds in the current business environment and assured investors that their teams are well-equipped to sustain levels of service and profitability.
Meanwhile Ariel P Fermin, group COO said that following a year when the company invested in its brands to drive mainstream relevance, its focus now is to deliver on the increased demand.
“Our integrated supply-chain programs are designed to furnish consistent quality, cost-optimised, and responsive services to our growing customer base and store network.”
He added that the fundamentals the company put in place will serve it well in light of the challenges ahead this year.
Max’s Group opened 82 new stores last year, including 22 overseas, taking its network to 760 locations, with 70 of them located overseas in North America, the Middle East and Asia.