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It is not easy to find a Good Restaurant group below BV, with a 4%+ Dividend

MAXS vs PIZZA, JFC : from '15: 2020: YTD: 10d : 4.05 / 9.50, 231.0 = 42.6%


2014: 2015:   MAXS never recovered much from the 2020 Covid selloff


Restaurants UPDATE,  mid-Sep. 2023. (bought MAXS)
Psei 6,668 1.6.23:  EPS : P521    12.8x: 149.: 2.23%
Psei 6,125 9.18’23  EPS : P425  14.41x 184.: 3.01%

Sym Last: %Psei: BkVal: %BV :   PER : Div. : Yield:
Maxs 4.04: 0.59%: 4.97 : 81.3%  5.40 : .193: 4.77%
Pizza 9.41: 1.53%: P4.18: 225.% 14.23 : 0.10: 1.06%
JFC : 230: 3.76%: 55.61: 414.% 39.50: 23.0: 1.00%
Mcd 269.5  ==== ($6.85) Infin. 33.95: 6.09: 2.26%
J/M: 85.3%

C06325: Max's Group press release - 1

"Max's Group posts stronger 1H 2023; outperforms pre-pandemic levels"

Max's Group, Inc. ("MGI", the "Group", or the "Company"), the largest casual dining restaurant group in the Philippines posted net income of P246 million (/1,037M= 0.237/ sh.) for the 1H of 2023 which outperforms its 2019 performance by 54%. Organic net income excludes the sale of a subsidiary whose sole asset is land.

The Group's system-wide sales ("SWS") is back to pre-pandemic levels at P9.2 billion across both company-owned and franchised stores in the global network achieving 95% of its 2019 performance despite lesser stores from closures during the pandemic. As compared to the 1H of 2022, sales jumped by over P1 billion or a 14% increase and converted to revenues of P5.9 billion, a 17% increase from the previous year.

Strong 1H 2023 results were primarily driven by Max's Restaurant and Pancake House, which experienced a rebound from a challenging first quarter last year. Yellow Cab Pizza and Krispy Kreme continue to perform with a strong brand equity. Meanwhile, operations of the international segment remained healthy with a combined 6% growth in SWS across Asia, North America, and the Middle East. Despite the challenges in commodity hikes, the Group's tightened business models implemented during the pandemic continue to have a positive impact on margins.

Strategic measures during the first half of the year cushioned the impact of headwinds as seen in gross profit of P1.9 billion or a 33.0% margin, representing a significant improvement of over 500 basis points as compared to 27.7% in 2019. "MGI's consistent execution of our customer-centric strategies, backed by tried and tested business models have cushioned the impact of commodity hikes and global economic challenges. MGI remains strong despite current market conditions," said Robert F. Trota, President and Chief Executive Officer.

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MAX's INFLATIONARY COST issues went back to 2018

On the cost side, MGI was weighed down by escalating raw material prices and a larger manpower component as it realized the impact of its move towards professionalization which began in 2017. This initiative was undertaken to reinforce strategic capabilities at the management level to ensure sustainable growth. The Company likewise took into account recently enacted labor policies particularly on third-party service engagements. As a result, net income declined 30% to P123.7 million from P176.0 million year-on-year.

The Company also announced its strategic pivot to franchising as the preferred mode of expansion both domestically and overseas. This shift will leverage on Max’s Group’s brand equity, operational expertise, and scale to propel store network expansion and boost fee-based collections, which generally equate to better profit translation.

“While cost and inflationary pressures as well as prolonged currency volatility are likely to persist, we are equipped with the proper growth strategies to stay resilient under these conditions. Looking ahead, we have laid out firm plans to address controllable expenses and maximize income flow-through. This keeps us aligned with our objective of improving overall profitability in the long-run,” shared Ariel P. Fermin, Group Chief Operating Officer.

> https://www.maxsgroupinc.com/news/maxs-group-reports-1st-quarter-2018-results-refocuses-efforts-to-franchising-11

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Del Monte Pacific Limited

DLM : 7.30 : PER: 7.40x, Div.: 0.074, Yield: 1.01%; Range: 7.30 to 14.20.  80.4% of BV: 9.08



OLD news, 9.9.22... first quarter FY2023 results ending July

C06848: Del Monte Pacific 1Q FY2023 results - 1

"Del Monte Pacific Delivers Higher 1Q Net Income Before Redemption Cost" •

Del Monte Pacific (DMPL) Group sales decreased by 1% to US $456.6m as higher sales in the USA and international markets led by the S&W brand were offset by lower sales in the Philippines • US subsidiary Del Monte Foods (DMFI) redeemed its 11.875% Senior Secured Notes to secure a much lower interest rate and incurred a one-off redemption cost of US$50m • Before this one-off cost, DMFI's net profit rose 67% to US$8m while Group net profit increased by 7% to US$19.6m • Net of this one-off cost, DMPL incurred a net loss of US$30.5m • Group expects to generate a net profit in FY2023 after one-off redemption cost Singapore Mainboard and Philippine Stock Exchange dual listed Del Monte Pacific Limited ("DMPL" or the "Group"; Bloomberg: DELM SP, DELM PM) reported today its first quarter FY2023 results ending July. DMPL generated sales of US$456.6 million, slightly behind year ago by 1% as better performance in the USA and international markets was offset by lower revenues in the Philippines.

The Group's US subsidiary, Del Monte Foods Inc. (DMFI), achieved sales of US$302.4 million or 66% of Group turnover. DMFI's sales increased by 1.5% on the back of higher retail branded sales of canned vegetable, tomato, broth and Joyba bubble tea. Del Monte canned vegetable, which had the highest contribution to branded retail sales, saw a 3.5-ppt increase in market share on the back of strong commercial execution, increased distribution of core products, and new product expansion, all supported by superior supply chain support. Canned fruit and fruit cup snacks also achieved higher shares. New products launched in the past three years contributed 6.8% to DMFI's total sales in the first quarter.


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