Revenue for the six months increased 62% to total $548.23 million, up $209.79 million from the $338.44 million recorded in the prior year. For the quarter the company saw a 52% increase in revenue totalling $291.92 million compared to (2016: $192.41 million)
Costs of Sales amounted to $438.75 million, an increase of 56% compared to $280.86 million booked in the corresponding period for 2016. As such, Gross Profit moved from $57.58 million to $109.48 million, an improvement of approximately 90% year over year.
Total Expenses for the six month increased 44% year over year to $29.39 million, relative to $20.41 million. Of this, Selling & Marketing Expenses rose by 84% to $11.24 million relative to $6.12 million reported the prior year. Administrative and Other Expenses increased [...]
Jetcon Corporation Limited (JETCON) held its first Annual General Meeting on June 14, 2017, and reported that the following business was transacted:
1. “To receive, consider and if thought fit approve the Audited Financial Statements of the Company for the year ended December 31, 2016, together with the Reports of the Directors and Auditors thereon.” This was approved by majority vote.
2.i) “To propose an amendment to article 99 of the Company’s Articles of Incorporation regarding Retirement of Directors, which states: “At the first Annual General Meeting of the Company all Directors shall retire from office and at the Annual General Meeting in every subsequent year all of the Directors for the time being shall likewise retire from office”
Resolution: Be it resolved that article 99 of the Company’s Articles of Incorporation be amended by substituting the words “one third of [...]
“Fantastic” was how John Jackson, Chairman of Jetcon Corporation described the company’s 2016 financial year. He assured shareholders that 2017 is expected to be even better based on results to date.
The chairman was addressing Jetcon‘s first Annual General Meeting (AGM), since being listed on the Junior Market of Jamaica Stock Exchange. The Company’s 2016 Audited Financial Statement, which was discussed and approved at the AGM, highlighted Jetcon’s the progress achieved in 2016, with the company’s performance helping to push the stock price from its initial listing of $2.25 in 2016, to $14.88 on the day of the meeting, for a gain of 570 percent. The AGM which was held at the Knutsford Court Hotel on June 14, was attended by approximately 75 of the more than 500 members of Jetcon’s shareholders and representatives from the Jamaica Stock Exchange and the media.,
The successful performance of Jetcon Corporation since listing in 2016, reveals the rich opportunities that exist in Jamaica for Jamaicans to better themselves financially, chairman of the company, John Jackson said, in addressing shareholders at the company’s first Annual General Meeting, as a public company.
Jackson went on to state “ordinary Jamaicans need adequate education, need to corporate with and trust one another, share our assets in an organized manner and the sky is the limit to what can be achieved’. “Many opportunities exist for Jamaicans to profit from, however, they need to learn how to find them.” This means, with greater financial sophistication born out of knowledge, coupled with the advent and buoyancy of the Junior Market, ordinary Jamaican families can capitalize on various financial prospects that exist in the country”. The success of Jetcon and other [...]