MTCC Profit Increases by MVR22 Million in 2020

Wednesday 20th of May 2020

MTCC Profit Increases by MVR22 Million in 2020

Maldives Transport and Contracting Company Plc (MTCC) financial reports of first quarter 2020 revealed that the profit after tax of the company increased to MVR53 million, a MVR22 million increase from last quarter of 2019. However, the company’s revenue had decreased from MVR377 million to MVR354 million.

During the 01st Quarter of 2020, MTCC progressed work on 53 construction, dredging and reclamation projects out of which 4 projects were successfully completed. This includes the Construction of V.Keyodhoo Harbor Project Phase 2, Th.Vilufushi Football Ground Subbase work, R.Dhuvaafaru Football Ground Subbase work and Th.Thimarafushi Football Ground Subbase work.

Furthermore, work on 11 new projects commenced during the quarter while the following 03 projects were awarded to MTCC; Design and build of harbor upgrade in Dh.Meedhoo, Design and build of coastal protection structures in N.Fohdhoo and Design and build of harbor construction in S.Hulhudhoo.