STO makes record profit

State Trading Organisation (STO) has made record profit in the month of March 2014.

Managing Director of STO Adam Azim said at a press conference today that the company made a profit of MVR 49 million in March 2014.

He said that monthly profit has never been this high before.

Azim said that this was achieved without increasing prices, and noted that prices of some products have in fact been reduced, including a 60 percent reduction in construction industry prices.

He said that this was achieved by increasing efficiency in the management team, and by reducing costs.