By: CNN Philippines
Max’s Group Inc. (MGI) returned to profit in 2021 with a net income of ₱451 million, it said Tuesday.
The listed casual dining restaurant group reeled from a ₱1.68-billion net loss in 2020, a year marked by the tightest restrictions and dampened consumer activity.
MGI’s earnings in 2021 came as it also transformed its business model to go beyond restaurant operation while navigating through a difficult year, MGI president Ariel Fermin said.
He added they did these “while at the same time transforming its business model to move beyond being just restaurant operators and enter into adjacent industries, establishing ourselves as manufacturers, merchants, and distributors.”
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