May 7, 2026

Jetcon Corporation Limited (JETCON)

Unaudited financials for the three months ended March 31, 2026:

Jetcon Corporation Limited (JETCON) for the first quarter ended March 31, 2026, reported revenues of $418.27 million, an increase of 113.0% compared to $196.39 million in the corresponding period last year. Cost of Sales rose 100.7% to $319.94 million (Q1 FY2025: $159.40 million). Consequently, gross profit advanced 165.8% to $98.33 million (Q1 FY2025: $36.99 million), with gross margin strengthening to 23.5% from 18.8% in the prior year.

Sales and Marketing expenses increased 74.6% to $12.65 million (Q1 FY2025: $7.25 million). Administrative and Others expenses rose modestly by 11.7% to $16.18 million (Q1 FY2025: $14.49 million), while Other Operating Expenses increased 22.7% to $5.57 million. Total operating expenses (excluding finance charges) of $34.40 million represented a 30.9% increase against the prior-year.

Operating Profit for the quarter amounted to $63.92 million, an increase of 496.1% compared to $10.72 million in Q1 FY2025, with the operating margin expanding from 5.5% to 15.3%. Finance charges rose 64.4% to $2.75 million (Q1 FY2025: $1.67 million), reflecting the step-up in short-term borrowings used to fund the period’s significant inventory build to $463.5 million. Notwithstanding the higher financing burden, Profit Before Taxation reached $61.18 million, an increase of 575.8% over $9.05 million in the prior year.

The Company recorded a taxation charge of $1.12 million for the quarter (Q1 FY2025: nil). As a result, Net Profit for the quarter reached $60.06 million, a 563.5% increase from $9.05 million in the prior year, with net profit margin expanding from 4.6% to 14.4%.

Earnings Per Share for the quarter amounted to J$0.103 (Q1 FY2025: J$0.020), based on 583,500,000 shares in issue. The twelve-month trailing EPS stood at J$0.25. Notably, JETCON’s stock price closed on May 6, 2026 at a price of J$2.43 (PE: 9.70x)

Balance Sheet Highlights

The Company’s assets totaled $1.065 billion (Q1 2025: $825.27 million), an increase of 29.1%. The movement in total assets was primarily attributable to a substantial build in Inventories, which rose to $463.46 million from $279.73 million in 2025 (+65.7%). Property and Equipment also increased by 12.7% to $464.69 million (Q1 2025: $412.15 million).

Shareholders’ equity was $831.77 million (Q1 2025: $685.47 million), representing a book value per share of $1.43 (Q1 2025: $1.17).

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