Maldives Airports Company Limited (MACL) had collected MVR 1.1 billion as gross profit last year.
According to the annual report released by the Privatization and Corporatization Board (PCB), MACL received MVR 1.1 billion as gross profit last year, marking the company at the head of the state institutes in this regard.
The amount is also a 9 percent increase as compared to the MVR 1.03 billion received by MACL in 2017.
The second largest gross profit was acquired by Bank of Maldives (BML) last year. They received MVR 1.09 billion, a 6 percent increase compared to 2017.
Meanwhile, the gross profit received by State Trading Organization (STO) had significantly decreased last year. The company had
received MVR 14 million as gross profit, which is a 93 percent fall from 2017 where they collected MVR 211 billion as gross profit.
The report highlighted STO's downfall was due to the development of a hotel in Hulhumalé, which had been halted. Additionally, maintenance and other costs had contributed to the fall in profit.