STO generates MVR 9.4 billion as income in 2018

State Trading Organization (STO) generated an income of MVR 9.4 billion in 2018.

Financial records of 2018 released by STO shows that that there was a seventeen percent increase in the profit generated in 2018, compared to the previous year.   

STO highlights that the increase in profit is due to the growth in sales of fuel by the company. There was a 20 percent increase in the sales of fuel compared to the previous year.

Statistics shows that the profit generated by the sales of fuel increased by 47 percent.

The sales of other goods and services rose by 25 percent and the profit generated from these goods and services increased by 10 percent.

The company reported that the profit of the company has been rising since the fourth quarter of year 2018.

STO generated a huge profit in the first quarter of year 2019.

The company is scheduled to propose a dividend payout of MVR 58per shareholder during its upcoming Annual General Meeting. The AGM will be held at Dharubaaruge, Rannabandyeri Maalam on May 16, 2019.