Jetcon ends at a new closing high of $13 on Tuesday.
Earnings per share ended the year at 54 cents for the first year that the company listed on the junior market of the Jamaica Stock Exchange.
Revenues for the year grew by 64 percent, higher than the 49 percent increase for 2015 over 2014. The performance resulted in revenues of $858 million versus $524 million in 2015. The company’s revenues increased over the prior year, in each quarter, ending at $148 million in the first quarter, $195 million in the June quarter, $268 million in the September quarter and $228 million in the December quarter.
Gross profit increased by 75 percent as gross profit margin increased over 2015. Selling and marketing expenses more than doubled to $13 million from $6 million in 2015 while administrative and other expenses climbed by a third to $36 million from $27 million.
Growth in profit, helped to propel the stock from its initial listing price of $2.25 to a high of $13 reflecting a gain of 478 percent since it listed in March 2016. A trade at $14.80 towards the end of trading on Tuesday was cancelled.
Capital| Jetcon put the net new capital of just under $90 million raised in the initial public offer (IPO) into increased inventory, resulting in increased choices and strong sales growth in the post listing period.
The economic environment is positive to allow for increased business. Some of these are reduction in lending rates and a high percentage of the value of vehicles covered by lending institutions. Improvement in the wider economy backed by tax reductions for some workers, along with increased remuneration and the lowest inflation rate in several decades would all have played a part.
Gross cash flow generated from operations, ended at $100 million but inventories grew by $166 million, to end the year at $251 million, including goods in transit. The capital from the IPO and the profit for the year strengthened to financials, with equity capital of $294 million up from just $107 million at the end of 2015.
Jetcon Corporation revenues enjoyed strong growth for 2016
Update| According to a release by the company, revenues for 2017 up to the date of the report, is 77 percent ahead of the first two months of 2016. “Based on orders on our books and sales for 2017 towards the end of February, we expect revenues and profit in Q1, to be ahead of that for 2016, barring unforeseen developments.”
“Whilst we cannot say with certainty that the above pace of sales growth will continue for the full year, our budgets, forecast and strategies for the year, is for increased revenues and profit as we work as a team to build the company into one that the stakeholders will view positively”, the statement concluded.
If the pace of growth in revenues seen for the first two months, continues to the end of March, revenues for the quarter would be the higher than in any quarter for 2016.
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Mayberry Investments gained 10 cents to close at $5.40 with trades of 8,660 units. National Commercial Bank rose to $62.76, gaining $1.76 after trading 44,809 units, Pan Jamaican lost 5 cents, closing at $34.95 with an exchange of 16,070 shares, Portland JSX traded 4,000 units at $10.60, Pulse Investments closed at $7.50, gaining 50 cents with 12,285 shares changing hands, while Radio Jamaica gained 11 cents to close at $1.81 trading 34,902 units. Sagicor Group closed at $36.25 with trades of 37,239 units, Sagicor Real Estate fund closed 50 cents higher at $11 with 98,288 units changing hands. Scotia Group closed higher to $40.22 gaining 22 cents trading 2,450 shares, Seprod traded 8,782 shares at $41 for a loss of $4.10, Supreme Ventures closed at $6 with 265,951 shares traded. Proven Investments closed at 30 US cents trading 109,810 ordinary shares, JMMB 7.5% preference share closed at $1.71, with 368,000 shares traded and JMMB Group 7.5% preference share traded 23,484 units at $1.05.
with the bid at $38 compared to $35 last week. Earnings for 
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The main market of the Jamaican Stock Exchange, recovered some lost grounds on Friday, while the juniors and the US dollar market lost some ground as advancing prices were ahead of falling ones, on a day of moderate trading. 
The average trade for the day in the main market ended at 140,693 shares compared to an average of 154,908 units on Thursday. For the month to date, an average of 138,259 shares traded, compared to an average of 135,825 units up to the prior trading day. January ended with an average of 592,602 units.
Mayberry Investments lost 2 cents to close at $5.30 with 173,148 shares changing hands. National Commercial Bank closed lower at $61.50 with a loss of 50 cents, after swapping 78,916 units, 138 Student Living closed at $4.60 trading 17,254 shares. Pan Jamaican closed trading lower at $38.50 with a loss of $1.50 while exchanging 42,799 shares, Pulse Investments closed at $6.80 with 10,200 shares changing hands, Radio Jamaica added 1 cent to close at $1.86 trading 31,741 units. Sagicor Group gained 20 cents to close at $37.30 with trades of 144,110 units while Sagicor Real Estate fund lost 55 cents, closing at $10.45 with an exchange of 13,650 units. Scotia Group closed at $40.50 having traded 38,867 shares, Scotia Investments closed lower at $38, losing $2 trading 113,463 units, Seprod traded 1,000 units at $38.55 with gains of $5.95, Supreme Ventures closed 10 cents higher at $5.60 with an exchange of 26,455 shares. Proven Investments closed with gains of 1.5 US cents to 31.5 US cents trading 9,768 ordinary shares, Jamaica Money Market Brokers 7.5% preference closed at $2.06 with trades of 3,466 shares and JMMB Group 7.5% preference closed at $1.05 trading 12,500 units.
Stocks trading on the Jamaican Stock Exchange, on Wednesday mostly rose leading to gains in the man market indices, moderate gains for the junior market and a rise of the US dollar market index. 
The junior market ended trading with an strong>average of 272,143 units for an average value of $1,438,434 traded, compared to of 53,783 units with an average value of $315,952 on the previous trading day. The average volume and value for the month to date ended at 258,893 units and $1,588,639 compared to 258,010 units and $1,598,653 to the previous day. The average volume and value for January, ended at 165,547 units and $884,749.
Kingston Wharves slid $1, closing at $30 trading 3,910 units, Margaritaville Turks lost 1 US cent to close at 35 US cents with an exchange of 18,163 shares, Mayberry Investments lost 8 cents, closing at $5.32 with 18,223 shares changing hands, National Commercial Bank closed lower at $62, losing 80 cents, after swapping 42,384 units. Pan Jamaican closed trading at $40 with gains of 50 cents and an exchange of 35,650 shares, Portland JSX gained 5 cents to close at $11 trading just 240 units, Pulse Investments closed at $6.80 with 6,688 shares changing hands, Radio Jamaica lost 5 cents to close at $1.85 trading 272,339 units. Sagicor Group closed at $37.10, climbing $2.10 with trades of 62,195 units, Sagicor Real Estate fund lost 30 cents, to close at $11 with an exchange of 87,762 units. Scotia Group gained $1.50, closing higher at $40.50 having traded 27,020 shares, Scotia Investments closed at $40, with a fall of $1 while trading 5,825 units, Sterling Investments traded 5,000 shares at $16, for a gain of 35 cents, Supreme Ventures closed at $5.50 with an exchange of 209,312 shares. Proven Investments closed at 30 US cents trading 66,913 ordinary shares and JMMB Group 7.5% preference share fell 2 cents to close at $1.05 trading 501,812 units changing hands.
The junior market hit a new record close at the end of trading on Tuesday, with a strong gain of 57.28 points to close at 3,101.51 as 19 securities changed hands.
An average of 53,783 units with an average value of $315,952 traded, compared to of 110,117 units with an average value of $656,133 on the previous trading day. The average volume and value for the month to date ended at 258,010 units and $1,598,653 compared to 272,597 units and $1,690,274 to the previous day. The average volume and value for January, ended at 165,547 units and $884,749.
Pulse Investments closed at $6.80 with 417 shares changing hands, Radio Jamaica closed at $1.90 trading 10,707 units. Sagicor Group closed lower at $35, losing 20 cents with trades of 102,185 units, while Sagicor Real Estate fund lost 20 cents to close at $11.30 with an exchange of 7,249 units. Scotia Group was down 10 cents, closing at $39 having traded 233,584 shares, Scotia Investments closed at $41, adding 1 cent trading 150 units, Supreme Ventures closed at $5.50 with an exchange of 35,482 shares, Proven Investments closed at 30 US cents, losing 2 US cents trading 51,537 ordinary shares, Jamaica Money Market Broker 7.5% preference share closed at $2.06 with 23,497 units changing hands and JMMB Group 7.5% preference share closed at $1.07 with trades of 100,000 units.
