STO receives profit of USD 25 million in 2019

State Trading Organisation (STO) has revealed the company received a profit of USD 25.896 million last year.

Addressing the ceremony held to mark the 55th Anniversary of STO, Managing Director Hussain Amr said the aim is to generate USD 32 million as profits this year. Amr added changes will be brought to the company salary structure in addition to other steps in order to achieve the target.

STO received USD 6.150 million as revenue in the last quarter of 2019 which is an increase of 23% compared to the third quarter. However, STO did not disclose the reasons behind the increase in profits.