{"id":6068,"date":"2023-05-14T09:10:21","date_gmt":"2023-05-14T04:10:21","guid":{"rendered":"https:\/\/mbt.mv\/?p=6068"},"modified":"2023-05-14T09:10:21","modified_gmt":"2023-05-14T04:10:21","slug":"mtcc-generates-mvr2-47b-income-in-2022-highest-ever","status":"publish","type":"post","link":"https:\/\/mbt.mv\/?p=6068","title":{"rendered":"MTCC generates MVR2.47B income in 2022; highest-ever"},"content":{"rendered":"<p>Maldives Transport and Contracting Company (MTCC) reported an annual income of MVR2.47 billion in 2022.<\/p>\n<p>With a 26% increment compared to the annual income of MVR1.97 billion in 2021, MTCC reported that this is the highest-ever it had generated.<\/p>\n<p>MTCC further said that construction and dredging segment recorded a significant revenue boost with the increase in the number of construction projects carried during the year.<\/p>\n<h3>Core Business Activities<\/h3>\n<ul>\n<li>Contracting and Dredging: 82.54% | MVR2.04 billion<\/li>\n<li>Trading: 12.04% | MVR297 million<\/li>\n<li>Transport: 4.43% | MVR110 million<\/li>\n<li>Other: 0.99% | MVR24 million<\/li>\n<\/ul>\n<h4>Operating Profit<\/h4>\n<p>MTCC reported a 1.5% increment in their operating profit to MVR324 million compared to MVR319 million in 2021.<\/p>\n<p>Out of the total operating profit for the year, MVR67 million is attributable to trading, MVR232 million to contracting, MVR11 million to transport, MVR18 million to other business activities, and a loss of MVR4 million from real estate.<\/p>\n<h4>Net Profit<\/h4>\n<p>MTCC reported that its profit after tax decreased 15% compared to the previous year, mainly due to increased cost of materials and finance cost expended during 2022.<\/p>\n<p>Despite this, there was a substantial improvement in revenue while the gross profit margin fell to 12% from 20% in 2021, and the net profit margin fell from 12% in 2021 to 8% last year.<\/p>\n<p>Meanwhile, MTCC has announced a dividend of MVR 4 for every MVR 5 share. The company announced a total dividend payout of MVR32.15 million from the retained profit of 2022, compared to the MVR28.13 million dividend payout in 2021.<\/p>\n<p>This is also the highest-ever dividend payout announced by MTCC in its 42-year long history.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Maldives Transport and Contracting Company (MTCC) reported an annual income of MVR2.47 billion in 2022. With a 26% increment compared to the annual income of MVR1.97 billion in 2021, MTCC reported that this is the highest-ever it had generated. MTCC further said that construction and dredging segment recorded a significant revenue boost with the increase<\/p>\n","protected":false},"author":4,"featured_media":6069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2423],"tags":[105,106,1362,1552,1554],"class_list":{"0":"post-6068","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-annual-profit","9":"tag-annual-report","10":"tag-maldives-transport-and-contracting-company","11":"tag-mtcc","12":"tag-mtcc-annual-general-meeting"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MTCC generates MVR2.47B income in 2022; highest-ever - Maldives Business Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mbt.mv\/?p=6068\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MTCC generates MVR2.47B income in 2022; highest-ever - Maldives Business Times\" \/>\n<meta property=\"og:description\" content=\"Maldives Transport and Contracting Company (MTCC) reported an annual income of MVR2.47 billion in 2022. With a 26% increment compared to the annual income of MVR1.97 billion in 2021, MTCC reported that this is the highest-ever it had generated. MTCC further said that construction and dredging segment recorded a significant revenue boost with the increase\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mbt.mv\/?p=6068\" \/>\n<meta property=\"og:site_name\" content=\"Maldives Business Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/mvbiztimes\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-14T04:10:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mbt.mv\/wp-content\/uploads\/2023\/05\/MTCC-bus-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"652\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mohamed Reehaan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@mvbiztimes\" \/>\n<meta name=\"twitter:site\" content=\"@mvbiztimes\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mohamed Reehaan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/mbt.mv\/?p=6068#article\",\"isPartOf\":{\"@id\":\"https:\/\/mbt.mv\/?p=6068\"},\"author\":{\"name\":\"Mohamed Reehaan\",\"@id\":\"https:\/\/mbt.mv\/#\/schema\/person\/a0eedc1134716e7c8e4da095494670c2\"},\"headline\":\"MTCC generates MVR2.47B income in 2022; 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