State Trading Organization (STO) reports earning a total revenue of MVR4.94 billion for the second quarter of 2022.
STO earned a gross total of MVR4.04 billion during the preceding quarter while it had earned only MVR2.2 billion in the corresponding quarter in 2021.
According to the largest state-owned enterprise (SOE) in the Maldives, it had made a net profit of MVR155 million for the review quarter while its expenses for the review quarter stood at MVR268 million.
The largest SOE of the country also reports modest improvement in net profits compared to the previous quarter during which it stood at MVR150 million.
On the other hand, net profit earned to STO in the corresponding quarter of 2021 stood at just MVR110 million.
STO’s operating profit for the second quarter of 2022 stood at MVR217 million, while it was at MVR209 million during the preceding quarter.
According to the most recent quarterly update from STO, government holds a total of 919,869 shares with a face value of MVR50.00 per share, which amounts to a total of MVR45,993,450 in expected dividends.
Meanwhile, general or public shares stand at 207,041 with the same face value amounting to a total of MVR10,352,050 in expected dividends.
As for the technicals, the company’s net asset per share is currently equal to MVR2,805.00 while the debt equity ratio of STO increased from 1.80 to 2.13 while the debt service cover ratio increased from 2.74 in the previous quarter to 4.41 in Q2-2022.