Leading casual dining chain operator Max?s Group Inc. ended the first half of the year with a total of 600 outlets.
In a stock exchange filing, Max?s Group said it opened 35 new stores including an international branch during the six-month period, accounting for half of the total stores targeted to open this year.
It has set aside P500 million to open 60-70 restaurants this year, mainly across its winning brands with minimal churn. By recalibrating its design and build plan, Max?s Group expects a levelled and systematic store rollout.
As of the end of June, the group?s store network comprised 187 Max?s, 133 Pancake House, 138 Yellow Cab Pizza, 75 Krispy Kreme, 13 Sizzlin Steak, 21 Teriyaki Boy, 10 Dencio?s, 1 Kabisera, 1 Maple, 20 Jamba Juice, and 1 Eats. These include stores overseas.
The company reported a slight increase in its first half net income to P295.33 million on the back of a 10 percent growth in revenues.
Revenues generated from restaurant sales, commissary sales, franchise, royalty and license fees amounted to P5.43 billion. Total systemwide sales went up 13 percent to P7.43 billion.
