State Trading Origanisation (STO) has revealed that it earned an income of over USD 1 billion in 2025. The state-owned enterprise published its financials for the fourth quarter, reflecting an income of USD 1,002,765,344 in contrast to the USD 996,285,752 received in 2024.
The financial report also revealed that STO earned USD 265,244,908 in revenue for the fourth quarter, an eight percent increase from the previous quarter. The main reason for this growth was that business was good in all areas of the company. Proceeds from the sale of oil have risen 4 percent with other categories rising by 19 percent, as per the report. The surge in revenue has resulted in a greater gross profit at USD 43,409,593.48, an 11 percent growth compared to the previous quarter.
The operating profit for the fourth quarter stood at USD 20,831,429.36, also an 11 percent increase from the prior quarter.
As financing costs decreased, this resulted in a net profit of USD 17,855,510.88, a 20 percent rise compared to the third quarter when the net profit stood at USD 15,785,306.72.
The company recorded a total revenue of over USD 1 billion for the year 2025, due to favorable business conditions. The profit before tax stood at USD 58,871,430.80 for 2025 and Profit after tax was USD 49,296,736.56, a three percent increase compared to end of 2024.
STO is involved in a broad variety of trading activities in the Maldives, including oil, medicines, construction equipment as well as various different kinds of food and beverages.