MTCC to distribute MVR 2 per share

MTCC has decided to distribute MVR 2 per share from their profit last year.

This was passed in MTCC's Annual General Meeting held at Barcelo Nasandhura last night, with 99.5 percent votes. A total of 156 shareholders attended the meeting.

MTCC's profit last year decreased by 53 percent.

As per the company's annual report, MTCC received MVR 45 million as net profit last year. This is MVR 52 million less than profit in the preceding year. In 2023, MTCC received MVR 97 million as profit.

The marked decrease is owed to a 37 percent fall in their construction and dredging sector revenues. These areas are responsible for about 80 percent of total revenue.