MTCC profit for Q4 2018 hits MVR3 million

Photo: Avas Online

Maldives Transport and Contracting Company’s (MTCC) final quarter profit for 2018 reached MVR 3 million, according to the company’s quarterly report.

According to the company’s quarterly report, MTCC managed a net profit of MVR2.9 million in the last quarter of 2018. However, in 2017 the company made a net profit of MVR97 million in the same quarter, marking a significant drop in the company’s net profit earnings.

MTCC reports that the company had made trades worth MVR363 million during the final quarter of the previous year, however in 2017 the company’s trade worth reached MVR382 million. The gross profit for the last quarter of 2018 reached MVR61 million whereas the gross profit in 2017 hit MVR131 million.

The local company specializing in transport and construction has expanded its portfolio in dredging and harbor construction as well.

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