MTCC Reports USD43 Million Revenue for Q1

Despite this, the company still recorded a profit of USD340,000 for the year, with operational profits totalling USD2.7 million and net profits at USD399,000, although lower than expected.

MTCC attributed the decline in pre-tax revenue to a significant rise in global commodity prices, impacting its supply chain and resulting in increased foreign exchange expenditure. However, the company has taken measures to mitigate these challenges.

Despite the revenue drop, MTCC remains active in various infrastructural development projects, with a total of 196 projects ongoing at different stages. While three projects were fully initiated in the previous quarter, work has commenced on eight projects. Additionally, the company highlighted the awarding of new projects during the current quarter.