Maldives Transport and Contracting Company (MTCC) has published its Annual Report 2021, recording the highest ever profit before tax and dividend per share in its 41-year history.
MTCC recorded MVR 271.82 million as its profit before tax in 2021, up by 21 percent from 2020. The company recorded MVR 1.97 billion in revenue in 2021 compared to MVR 1.38 billion in 2020. This marks the best financial performance in the company’s history.
Additionally, MTCC has announced that the company will be distributing MVR 3.50 as a dividend per share for 2021, a total of MVR 28.13 as earnings per share. This is higher than MVR 3 as a dividend per share and MVR 24.11 earnings per share distributed in 2020, and is also the highest ever dividend per share recorded in its history.
MTCC was awarded 57 urban development projects and completed 27 projects in 2021. MTCC also conducted various marketing campaigns throughout 2021. Moreover, Greater Male’ Transportation Service which includes bus and ferry services previously managed by Maldives Ports Limited (MPL) was handed over to MTCC.
Furthermore, the agreement to establish the first phase of Raaje Transport Link or Integrated National Public Ferry Network (INPFN) was awarded to MTCC in 2021. MTCC also conducted 304 activities at various islands under its Corporate Social Responsibility (CSR) initiative in 2021.
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