Max’s Group Inc. reported a net income of P451 million last year, a significant turnaround from the P1.68 billion net loss it incurred in 2020 due to cost savings realized from rightsizing and more efficient operations.
Max’s Group Inc. reported a net income of P451 million last year, a significant turnaround from the P1.68 billion net loss it incurred in 2020 due to cost savings realized from rightsizing and more efficient operations.
The increase in 2021 was achieved even with 2020 operating 2.5 months pre-covid as well as strict dine-in restrictions during various periods of lockdowns in 2021. The increase in revenues was driven largely by overall market conditions as well as continued growth in off-premise channels of all brands.
Core brands continue to drive the demand and increase in SWS while the other brands were strategically placed in cloud kitchens which added extra boost in sales without the significant capex in opening a brick-and-mortar store.
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