Max’s Group, Inc. (“MGI” or the “Company”), the Philippines’ largest casual dining restaurant group, reported today its operating results for both the second quarter and first half of 2021 for periods ended June 30.
MGI posted second quarter systemwide sales (“SWS”)—comprised of sales generated by both company-owned and franchised stores—of P2.91 billion and revenues of P1.78 billion. These reflect comparable growth of +82% and +67% respectively versus the same period in 2020.
“We are heartened by the resilience demonstrated by our powerhouse portfolio of most-loved brands in protecting consumer relevance, even with headwinds against us,” stated MGI President & Chief Executive Officer Robert Ramon F. Trota. “Despite ongoing challenges both locally and internationally, including heightened restrictions in the front-end of the second quarter, we take pride in the growth surge we achieved, particularly with our renewed focus on our ‘core of core’ brands of Max’s Restaurant, Pancake House, Yellow Cab Pizza Co., and Krispy Kreme. In fact, our total first-half sales via our Delivery channel nearly doubled pre-pandemic levels, even as the government allowed customers to return to Dine-In throughout much of these first six months. This proves the strongly-entrenched demand for the brands we operate.”
For the total first half of 2021, the Company recorded total SWS of P5.75 billion, a 3% increase versus the P5.59 billion performance of 2020, which includes the pre-pandemic months of January and February. Comparatively, revenues softened by -4% to P3.62 billion, as compared to the P3.79 billion reported for first-half 2020.
