STO generates highest revenue among state-owned companies in 2018

The highest revenue was generated by State Trading Organization out of all state-owned companies during the last quarter of 2018, the Privatization Board has revealed.

According to the financial reports of the companies published by the Privatization Board, STO generated an income of MVR 2.5 billion during the last quarter of 2018. This is an increase of 26% when compared to the same period last year.

Following closely behind was Maldives Airports Company Limited (MACL), which generated a revenue of MVR 1.3 bilion, which is also an increase of 19.2% compared to the previous year. Bank of Maldives, Dhiraagu, Island Aviation, MWSC and MTCC follows behind in the listed order.

A total revenue of MR 7.5 billion was generated by the 21 state owned companies during the last quarter, which is a revenue increment of 15% from 2017.