STO reaches MVR 2.6 bln quarterly revenue

Photo: Avas Online

State Trading Organisation (STO) has reported record high quarterly profits, with a total revenue of MVR 2.6 billion for the last half of 2018.

STO’s quarterly report for the last half of 2018 revealed that their quarterly profits stood at MVR 66 million after tax, which was stagnant at MVR 47 million for the first three halves of the year. They reported an operating profit of MVR 119 million, an increase compared to the MVR 81 million during the third quarter.

The company’s gross profit stood at MVR 341 million during the fourth quarter.

Some of the notable events of the quarter include introduction of Dannone products, Saafu Raaje cleaning day activities and inauguration of a campaign against single use plastic in the Company.

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