May 15, 2025
Jetcon Corporation Limited(JETCON)
Unaudited financials for the first quarter ended March 31, 2025:
Jetcon Corporation Limited (JETCON) for the first quarter ended March 31, 2025 reported a 44% increase in turnover totaling $196.39 million compared to $136.44 million in the corresponding three months last year.
Year to date, the cost of sales amounted to $159.40 million (2024: $112.38 million), this represents an increase of 42% year over year. Consequently, gross profit increased by 54% to $36.99 million compared to $24.07 million for the first quarter ended March 31, 2024.
Total operating income increased by 54% to close at $36.99 million (2024: $24.07 million), while administrative and other expenses increased by 8% from $13.41 million in 2024 to $14.49 million for the three months. Additionally, selling and marketing expenses for the first quarter amounted to $7.25 million, a 105% increase relative to $3.53 million reported in 2024.
Consequently, total expenses for the three months amounted to $27.94 million, a 12% increase relative to $24.95 million reported in 2024. Finance costs totaled $1.67 million, a 13% decrease from the corresponding period last year. (2024: $1.92 million).
No tax charge was incurred during the period under review (2024: nil).
Profit After Taxation for the three months had a 1122% increase to reach $9.05 million (2024: loss of $885,496) . Total Comprehensive Income for the three months amounted to $9.05 million, a 1122% increase from the loss of $885,496 reported in 2024.
Consequently, Earnings Per Share for the three months amounted to $0.02 (2024: LPS: $0.002). The twelve-month trailing LPS was $0.11, and the number of shares used in these calculations was 583,500,000. Notably, JETCON’s stock price closed the trading period on May 14, 2025 at a price of $1.10.
Balance Sheet Highlights
The company’s assets totaled $825.37 million (2024: $680.94 million). The movement in total assets was primarily attributable to a 255.08 million increase in ‘Property and Equipment’ amounting to $412.15 million (2024: $157.07 million).
Shareholders’ equity was $744.04 million (2024: $574.12 million), representing a book value per share of $1.28 (2024: $0.98).
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