STO operating profit over MVR 1 billion in 2022

State Trading Organisation (STO) on Thursday announced the Company generated over MVR 1 billion as operating profit in Q4, 2022.

STO described it as a record performance year, with the unaudited financial statements showing the Company generated a total MVR 18.2 billion in 2022 - a 79% increase compared to the MVR 10.2 billion in 2021.

STO stated the operating profit contributed greatly to the company's profit in 2022. As such, STO's operating profit crossed the MVR 1 billion mark in 2022 compared to MVR 643 million in 2021.