STO makes MVR 44 million profit in May

State Trading Organization (STO) made MVR 44 million profits in May, the company has said.

Adam Azim, STO’s Managing Director said at a monthly press conference today that the company has been able to maintain its projected profits this year due to a reduction in expenses.

The public limited company, with 81 percent shares owned by the State, has been showing an increase in profits through expansion, with limited increase in the price of goods.

STO made MVR 61 million in profits in April 2014.