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Jetcon Q1 profit climbs YOY

Jetcon Corp. Ltd said its first-quarter normalized net income was 3 Jamaican cents per share, an increase from 1 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was J$12.1 million, an increase from J$5.3 million in the prior-year period.

The normalized profit margin increased to 6.8% from 5.6% in the year-earlier period.

Total revenue increased 54.5% year over year to J$147.7 million from J$95.5 million, and total operating expenses climbed 49.0% on an annual basis to J$127.9 million from J$85.9 million.

Reported net income rose year over year to J$14.6 million, or 3 cents per share, from J$6.5 million, or 1 cents per share.

As of April 27, US$1 was equivalent to J$122.37.