Business
Rs 3.55 Billion Surplus: STC Wipes Out Deficit in 1 Stunning Financial Year
The State Trading Corporation (STC) has reported a major financial reversal, announcing a surplus of Rs 3.55 billion for the 2024-2025 financial year.2
This positive outcome follows a deficit of Rs 6.22 million recorded in the preceding 2022-2023 financial period, signaling a “slight rebalancing” of the corporation’s financial position.4
Minister Credits Stabilisation Measures
The result was announced by the Minister of Commerce, Michael Sik Yuen, on Sunday, 23rd November, during the inauguration of a mini soccer pitch at Résidence St-Luc, Curepipe.5
The Minister explained that the surplus reflects the measures implemented over the course of the year to stabilise the STC.
Key Decisions Driving the Improvement
The corporation implemented several decisions that contributed to this financial upturn:
- Renegotiated supply contracts to secure better prices on the international market.
- Optimised logistics to reduce transport and storage costs.
- Improved stock management to avoid surpluses and costly purchases.
In addition, the STC adjusted its financial strategy to limit the impact of fluctuations in oil prices and maritime freight. An internal control policy was also put in place to reduce non-essential spending.
According to the Minister, these measures are expected to allow the STC to consolidate its results and offer a more stable and transparent service to the public.
Source: l’Express
