State Trading Organization (STO) experienced significant business growth last year, generating a total revenue of MVR 15.5 billion. This performance marks a notable improvement compared to the previous year, with growth observed across all business segments of the company. In the final quarter alone, the company recorded a revenue of MVR 4.1 billion, driven by its fuel trade and other diverse sectors.
As a result of strategic cost-reduction measures and enhanced operational efficiency, STO achieved a net profit after tax of MVR 762 million for the year. This represents a 3% increase compared to the previous year’s earnings. STO remains the leading entity in the Maldives, providing essential services and products across several sectors, including fuel, pharmaceuticals, construction materials, and food supplies.
