Jetcon Corporation is reporting another strong quarter, with net profit almost doubling as demand for motor vehicles continues to drive the company's performance.
Net profit for the second quarter, ended June 30, rose to $65 million, compared with $33 million in the corresponding period last year — an increase of approximately 97 per cent.
Revenue also surged 88 per cent to $428 million, up from $227 million a year earlier.
The company says the bulk of its revenue continues to come from motor vehicle sales, while its investments in the solar power market are also contributing to revenue and profit.
For the first six months of the year, Jetcon says revenue has doubled compared with the same period last year, while net profit has increased almost threefold.
The company ended the quarter with inventories valued at $603 million, making inventory its largest asset.
Jetcon says this reflects its strategy of increasing vehicle supplies to meet growing demand.
Jetcon says the strong performance demonstrates continued progress and support from shareholders, customers and employees.
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