JETCON reported 105% increase in net profit for nine months ended September 2017

Jetcon Corporation Limited (JETCON)

For the Nine months September 30, 2017

Turnover for the nine months grew by 45% to $886.55 million (2016: $611.11 million), while turnover for the quarter amounted to 333.22 million relative to $268.14 in 2016.

Cost of Sales also increased by 39% to $703.68 million (2016: $505.383 million) and as a result Gross Profit increased by 73% to 182.87 million compared to $105.73 million in 2016.

Total Expenses increased by 42% to $54.21 million (2016: $38.27 million). An increase in Selling and Marketing Expenses to $17.39 million (2016: $9.70 million) and an increase in Administrative and Other Expenses to $26.90 million (2016: $21.44 million) was offset slightly by a decline in Finance Costs to $117,156 (2016: $387,385).

Consequently, Profit Before Taxation amounted to $128.66 million relative to $67.46 million in 2016 representing a 105% increase year-on-year for the period.

Tax charges for the period was nil relative to $4.73 million 2016.

As a result, net profit period amounted to $128.66 million relative to $67.46 million, while net profit for the quarter totalled $48.36 million relative to $30.25 million in 2016.

Total comprehensive income amounted to $128.66 million (2016: $62.73 million).

As such, the earnings-per-share for the period amounted to $0.22 relative to $0.11 last year. The earnings-per-share for the third quarter amounted to $0.08 (201; $0.05) and the twelve-month earnings-per-share totalled $0.28.  The number of shares used in our calculation is 583,500,000.


Balance Sheet Highlights:

The company, as at September 30, 2017, recorded Total Assets of $435.06 million, an increase of 64.05% when compared to $355.1 million recorded last year.

Total Stockholders’ Equity as at September 30, 2017 closed at $429.26 million, compared to $261.66 million for the corresponding period last year. This resulted in a book value of $0.74 per share compared to $0.45 as at September 30, 2016.






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