Maldives Marketing and Public Relations Corporation (MMPRC) has recorded a profit of MVR 27.5 million, marking its first positive financial performance in four years. The announcement was made during the corporation’s annual general meeting held on Monday.

This turnaround comes after MMPRC reported a loss of MVR 18 million in the previous financial year. The corporation attributed the improvement to several key cost-cutting and strategic measures.

Operational expenses were significantly reduced, and a comprehensive performance-based audit of global PR partnerships helped streamline the number of international partners from 21 to six. This alone generated savings of MVR 4 million.

MMPRC also revised its international trade show policy. Previously consuming 80 percent of Malé’s promotional budget, spending on such events has now been scaled down to 34 percent, saving an additional MVR 2 million on major exhibitions.

Currently, MMPRC is actively running over 21 global destination marketing campaigns. It has also initiated co-investment marketing partnerships with international tour operators and airlines, generating contributions valued at over MVR 10 million.

Tourism numbers have also shown improvement, with increased arrivals from the corporation’s leading source markets compared to last year.