Max’s earnings up by 34% in second quarter

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Max’s Group, Inc. (MGI)’s net income expanded by 34% in the second quarter of the year, as the company implemented operational efficiency initiatives to help temper rising costs of raw materials.

In a statement issued Wednesday, Aug. 8, the listed casual dining restaurant group said net income picked up to P208.3 million for the April to June period, accelerating from the P155.7 million posted in the same period a year ago.

System-wide sales went up by 11% to P4.9 billion, as same store sales growth stood at six percent. New store sales also grew by five percent during the quarter.

“The results underpin prior initiatives to reorganize ourselves and invest on building professional capabilities to spearhead long-term growth,” MGI President and Chief Executive Officer Robert F. Trota said in a statement. — Arra B. Francia