STO profits drop 10% in 2009

Profits of the State Trading Organisation (STO) dropped 10 percent in 2009 to Rf140 million, reports Haveeru.

The company received Rf3.8 billion in revenue last year, a 35 percent decline from 2008 (Rf5.9 billion).

The company directors’ report blamed the impact of the worldwide economic recession and a drop in imports due to the dollar shortage.