MTCC earns record profits with MVR 185 mn

Maldives Transport and Contracting Company (MTCC) has earned record profits in 2015 with MVR 185.68 million.

Statements publicized by MTCC on Saturday shows that they earned MVR 185.68 million before tax deductions – a record amount for the company.

The amount is approximately three times the amount they earned in 2014 – MVR 99.13 million.

The company earned MVR 1.4 billion in income in 2015.

MTCC Chairman, Hussein Salim Mohamed said in his statement that noted that the company had earned a record amount of profits last year, and credited it to policies implemented to make the company more efficient and the various projects the company was undertaking across the country.

Salim said that the company would acquire modern machinery and resources this year, and increase the scope of projects undertaken by them – thereby increasing the profits further.

MTCC CEO, Ibrahim Abdul Razzaq Haleem said in his stamen that they had invested MVR 175.33 million for modern machinery and equipment last year, and that they would make further investments this year as well to increase speed and efficiency of their work.