The Group’s overall share of Maxim’s underlying profits was US$79 million for the full year, more than double the US$38 million contribution in the prior year. The growth in profit reflects the substantial business recovery in Hong Kong and the Chinese Mainland following the full reopening of their economies, as well as a favourable performance in South East Asia. Maxim’s reported strong restaurant growth, as well as solid mooncake sales in the year.

Maxim’s continued to expand in the year and reached the milestone of its 2,000th store in December. In March 2023, Maxim’s opened its first Shake Shack store in Thailand and has subsequently opened its first The Cheesecake Factory store in the country in early December.