MANILA - Max's Group Inc said Tuesday net income in the first 6 months of the year grew 12 percent as it opened more stores and kept sales steady.
Net income in the first half grew to P331.7 million from P295 million during the same period last year. System-wide sales grew 12 percent to P8.29 billion from P7.43 billion, Max's said in a statement.
Max's Group president Robert Trota said the company as preparing for the wet weather season, which could affect sales.
The group, which operates Max's Restaurant, Pancake House, Yellow Cab Pizza, Krispy Kreme and Jamba Juice, opened 41 stores in the first half, including 6 overseas. It has a total of 650 stores.
It plans to open at least 22 Yellow Cab in Vietnam, Brunei and Malaysia in the next 5 years under agreements forged in the first half.
Max's shares were down 1.14 percent to P19.08 on Tuesday.