Jetcon Reports 1.7% Quarterly Growth

The Directors of Jetcon Corporation are reporting another quarter of growth in revenues, but a slight decrease in profit compared with the similar quarter last year.

Managing Director Andrew Jackson says growth in revenues was achieved with an increase of 1.7-percent.

Revenues increased to $299-million when compared to the $294-million in Quarter 2 last year.

The company experienced a small dip in gross margin, from 21-percent to 19-percent.

There was also a decrease of 12-percent in pretax profit, to just over $38-million versus almost $43-million in 2017.

Despite the slight decrease in profits for this quarter, the first half of 2018 is still ahead of the same period for 2017, and barring any unfavorable developments, they expect Quarter 3 to be their strongest quarter.

The decrease in profits stems from a sharp increase in Cost Of Sales, owing partially to a rise in shipping costs.

They expect this to decrease over time as more cars imported under the new Pre-Inspection regime begin to fill inventory.

Jetcon Corporation paid out a dividend of $3.05 per share on July 25, closing the period with earnings per share of $6.58 versus $7.36 last year.

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