MTDC profits up by 69%

Resort developed by MTDC

Maldives Tourism Development Corporation has released the official report for the fourth quarter of 2016, from October to December, indicating a clear 69% increase in profits. The profits totaled USD 5.8 million.

The Public Limited Liability Company released the official report on 24th April 2017 indicating a clear profit of USD 5.8 million, a substantial increase as compared to the USD 1.7 million from the previous year. The total revenue for the year ended 31st December 2016 was USD 4, 098,606 and basic earnings per shares at USD 0.17.

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Market Highlights

  • Highest Traded Price ‐ MVR 13
  • Lowest Traded Price ‐ MVR 10
  • Market Capitalization – MVR 340,873,540
  • Weighted Average Traded price: MVR 10.8
  • Price Earnings Ratio – 4.11 times
  • Last traded Price: MVR 10
  • Dividend yield ‐ N/A

MTDC’s Mission is to source diverse investments and efficiently deploy its resources to ensure that the investment yields the highest returns which will maximize the wealth of its shareholders. Today MTDC is actively engaged in the tourism industry. It is engaged in developing resort islands and aspires to turn the green islands into green resorts that would invite foreigners to relax, enjoy and create lasting memories.

MTDC envisions becoming the most efficient Public Limited Company in the Maldives, by leveraging its core competencies and financial strength to achieve the expectations of shareholders and stakeholders to enhance the macro and micro-economic potentials of the tourism industry.

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