Kuddoo fisheries makes Rf13 million profit

The Kuddoo Fisheries complex has reported an Rf 13 million (US$1 million) in profit over the last two months. It had faced a loss of Rf 80 (US$6.2 million) last year.

The turnaround means that by July, when new figures become available, the company might not be operating at a loss at all. Kuddoo fisheries complex was set up by the government in May as a separate company from the Maldives Industrial Fisheries Company (MIFCO).

Speaking to Haveeru, the company Managing Director Ismail Adam said its intake has increased in correlation to the increase in fish purchase value in the last few months.