Maldives Marketing and Public Relations Corporation (MMPRC) has faced a loss of over USD 1.165 million during the second quarter of the year.
MMPRC gained USD 3.7 million during the first quarter but gained USD 2.5 million in the second quarter, according to the financial report published by Privatisation and Corporatisation Board (PCB). The company spent USD 1.3 million for the operational expenditure during the first quarter, while USD 1.1 million was spent during the second quarter. MMPRC spent USD 161,000 on promotional activities, USD 116,000 to participate in road shows and exhibitions, USD 97,000 for advertising and USD 19,000 for fame trips. There has also been an 18% increase in staff salaries. The amount of revenue obtained during the second quarter was also reduced compared to the amount received during the first quarter of the year.
MMPRC is the leading company in Maldives to promote tourism and has conducted a total of 21 advertising activities during the second quarter.