Maldives Transport and Contracting Company (MTCC) has recorded its highest profit in 41 years in 2021.
MTCC received USD 17 million in profit in 2021, which is an increase compared to USD 14 million in profit recorded in 2020. The state-owned company's fourth quarterly report in 2021 shows it received USD 40 million in revenue and USD 4.3 million in operating profit. The figures are a significant increase compared to the fourth quarter of 2020, during which MTCC received USD 26 million in revenue and USD 6.3 million in operating profit. The fourth quarterly report in 2021 also shows MTCC earned 2.8 million in net profit.
MTCC conducted numerous infrastructure development projects across the Maldives in 2021, and successfully completed 10 projects. MTCC stated it is formulating plans to expand all aspects of its work in accordance with the changes to the current national and global situation.