The Maldives Transport and Contracting Company (MTCC) has made a MVR 24.1 million (US$1.5 million) profit for the year 2012.
The company’s records – according to local media – show that it made MVR 597 million (US$38.5 million) in sales last year and declared MVR 12 million (US$77,7201) as taxes.
Sun Online reported that in 2011, MTCC lost MVR 8.03 million (US$518,000) and failed to distribute dividends to its shareholders for that year.
The President’s Office has announced that fishermen’s income has been increasing steadily over the past few months, while the price of fish has remained constant.
President Mohamed Nasheed said the government aims to support income growth for fishermen, and provided there are no changes to the industry’s current operations, profit levels will be maintained.
Speaking in his weekly radio address, the President further stated that retailers have reporters higher profits this Ramadan than in recent years. He noted that market prices have been controlled, and said the Maldivian economy was moving in the right direction.
Crime ratings have dropped in the past few months, and violent crime rates are notably low, the President claimed.
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.