The Managing Director of State Trading Organization (STO), Shimad Ibrahim, has stated that the company’s net profit is projected to reach MVR 1 billion by the end of next year, in alignment with its five-year Strategic Action Plan. The primary objectives of this plan include expanding business operations by 2030, enhancing the availability of goods, implementing eco-friendly solutions, and increasing revenue through new business ventures. STO recorded a revenue of MVR 5.5 billion in the first quarter of this year, a significant achievement attributed to the growth in fuel trade and the expansion of bunkering services. Based on the current financial performance, it is highly probable that the company will achieve its strategic targets ahead of the scheduled timeline.
