Jollibee [JFC 262.00, up 0.8%] [link] posted an FY23 net income attributable of P8.8 billion, up 16% from its FY22 net income of P7.6 billion. Systemwide sales were up 16.3% to P345 billion, with the biggest growth coming from China (+21.9%), the Philippines (+17.6%) and EMEA (+16.0%). Same-store sales growth was up 10.6%, with the biggest growth coming from the Philippines (+13.9%), China (+12.4%), and EMEA (+7.6%). JFC tracks the performance of its three newly-acquired brands (CBTL, SuperFoods (Highlands Coffee), and Milksha), and provided analysis to show that of these three, Milksha experienced the highest systemwide sales growth (+29.6%) and the highest same-store sales growth (+14.8%). SuperFoods, as compared to the other two tracked acquisitions, exhibited the worst performance across those two metrics with systemwide sales up only 6.4% and same-store sales down 4.3% (the only decline in data tracked by JFC). The company blamed “weak macros in Vietnam and increased competition in the coffee space” for SuperFoods’ underperformance.