STO made a profit of 422 million in 2019

STO’s Chief Financial Officer (CFO) Mohamed Mihad has stated in a recent media briefing that the company has made a profit of 422 million.

This is the profit made before excluding the tax.

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He also highlighted that the company has made an increase in profit by 68% in comparison to 2018, and this increase is caused by the growth of all the main companies of STO.

In 2019, the company’s revenue increased by 13% in comparison to 153 million in 2018. The company’s operating profit was 500 million which is 41% more than the operating profit of 2018.

In their last quarterly report of 2019, it was stated that the company made a net profit of 358 after deducting tax.

CFO also stated that last year was one of the most successful years for STO.

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