Leading casual dining chain operator Max’s Group Inc. plans to open 25 to 30 more stores in and outside of the country for the rest of the year as part of its aggressive expansion.
MGI opened 41 new stores including six overseas, bringing its total network to 650 branches as of the end of the first half. Of the total, 53 are located abroad.
The company is focused on operationalizing its current pipeline of around 140 stores across various locations in North America, Middle East and Asia.
So far this year, MGI has already secured two development contracts to establish at least 22 Yellow Cab outlets in Vietnam, Brunei and East Malaysia within five years.
?While efforts are centered on expanding physical presence, we are constantly on the lookout for opportunities to penetrate new geographies,? said Peter H. King, CEO of Max?s Group International.
MGI posted a net income of P331.72 million, up 12 percent year on year as topline grew 11 percent to P6.05 billion. Systemwide sales increased 12 percent to P8.29 billion.
Restaurant sales went up 11 percent to P5.04 billion on the back of new store openings and steady same
store sales performance.
