Maldives Ports Limited Reports Strong Financial Growth for 2025 as Profits More Than Double

Maldives Ports Limited (MPL) achieved strong financial growth for the fiscal year ended 31 December 2025, driven by a clear surge in core port operations and steady marine traffic across its network of maritime facilities.

Following the release of the audited financial report by the Auditor General’s Office on 27 August 2026, the company reported a net profit of MVR 59.93 million, representing more than double the MVR 27.84 million generated in 2024.

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According to the report, total revenue reached MVR 949.93 million in 2025, reflecting a 10.4 percent year-over-year increase from MVR 860.56 million recorded in the preceding fiscal period. Core operational revenue streams delivered healthy gains across all key business segments: stevedoring and cargo storage revenue expanded to MVR 314.90 million (up from MVR 297.31 million in 2024), general cargo unloading and handling services climbed to MVR 276.61 million (up from MVR 249.16 million), and marine services—including pilotage and vessel arrival management—rose sharply to MVR 138.29 million from MVR 112.90 million. These core revenue gains, paired with disciplined top-line expansion, contributed to a massive surge in the operating profit, which jumped to MVR 74.72 million compared to MVR 20.01 million in 2024.

From an expenditure perspective, the report showed that overall operational costs were managed effectively relative to top-line growth. Although operating expenses increased moderately to MVR 242.17 million—primarily driven by necessary infrastructure repairs and equipment maintenance totaling MVR 63.90 million—the company achieved cost optimization within its largest expense category, as overall staff expenditures fell to MVR 645.80 million from MVR 675.76 million in the prior period. This reduction provided vital operational leverage, directly bolstering pre-tax profits to MVR 77.60 million compared to MVR 38.84 million in 2024.

As per the audited financial report, the balance sheet continued to broaden, with total consolidated assets expanding to MVR 2.34 billion as of 31 December 2025. Physical infrastructure and heavy machinery remain the bedrock of the firm’s balance sheet, with property, plant, and equipment valued at MVR 1.24 billion—representing roughly 53 percent of total assets. In his official audit opinion, Auditor General Hussain Niyazy designated the carrying values and capitalization procedures of these capital assets as a Key Audit Matter, ultimately verifying that valuation standards and asset controls fully satisfied statutory requirements and international accounting standards. At the parent level, MPL delivered a net profit of MVR 71.52 million, up from MVR 38.31 million in 2024, confirming sustained momentum heading into subsequent operational cycles.