Philippine-based Max’s Group’s organic income growth climbs nearly 40%

The restaurant chain reported its 2022 organic net income growth stood at P622m (US$11.3m). 

Philippine casual dining restaurant chain Max’s Group, Inc. (MGI) reported its organic net income growth climbed by 38% to P622m (US$11.3m). 

The Group noted this is also 8 times higher than its 2021 performance, in terms of organic profitability. 

“Despite the challenges that the organization has faced since the first lockdown in 2020, our business model has been tested and proven, with the consistency of executed strategies as evidenced in our recovery,” MGI CEO Robert Trota said. 

The Group linked its recovery to the eased restrictions that significantly boosted sales in its dine-in brands Max’s Restaurants and Pancake House and off-premise brands Yellow Cab Pizza Co. and Krispy Kreme. 

Read more: Max’s Group net income skyrockets by 332% to P239.5m in Q2 2022

"Our business now stands on a stronger foundation. Our commitment to our shareholders was that we will be more than ready when the market is ready. The remastered fundamentals that started in 2020, coupled with our strategic pivots, are not only seen in our financial performance but in how the Group has evolved,” MGI President Ariel P. Fermin said. 

“We remain focused on serving our guests in our core restaurant business and have built key partnerships with our customers in our adjacent B2B platform. We continue to be an attractive and reliable choice for our shareholders, business partners, and our employees.”