The quarterly revenue of State Trade Organisation (STO) increased by 7% in comparison to 2017 in the fourth quarter of 2018, resulting in a revenue yield of MVR 2.6 billion due to increased diesel sales.
The rise in income was due to a 6% growth in diesel sales and 7% in other sources of income in the first quarter of 2018 in comparison to 2017. STO ‘s total earnings rose by MVR 49 million in comparison to the third quarter of 2018. This is an increase of 11%.
According to STO, their top priority in both the third and fourth quarter of 2018 was reducing the fluctuation of diesel prices in the market and its effect on the economy. As a company with a great number of public shareholders, they also made sure to yield long term profits for all their stockholders.
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Source URL: Corporate Maldives