Sri Lanka State Trading (General) Corporation was established under the Sri Lanka State Trading Corporation Act. No 33 of 1070 and notified in Gazette Extraordinary No 14, 939/10 dated 5.1.1971 on which date it commenced its trading operations.
The company is the successors to Sri Lanka State Trading (General) Corporation which was converted into a Public Limited Company under the conversion of Public Operations or Government Owned Business Undertakings into Public Companies Act. No 23 of 187 and notified in Government Gazette Extraordinary No 730 dated 28.8.1992, under the name of Lanka General Trading Corporation Limited and registered under the companies Act No 17 of 1982.
The Company's name was changed to STC General Trading Company Limited in 7.6.2002 and again it was changed to Sri Lanka State Trading (General) Corporation Limited on 1.10.2010.
The Company is now adjunct to the Ministry of Industry & Commerce.
The Company's ordinary shares, which are fully owned by the State and held by the Secretary to the Treasury on behalf of the State.
The management of STC is geared to deliver the highest possible level of meaningful benefits to the customer. It is the win-win attitude while strengthening the financial stability of the corporation as a giant trade in the government sector.
The STC financial indicated continued growth recently. Especially during previous eight years, STC performed with confidence and monthly sales increased was hit with recorded amount from Rs. 30 Mn to Rs.670 Mn. The Annual sales were unanimously increased with the innovative marketing appliances and timely strategies and the significant progress is visible.
In 2009/ 2010, sales growth was 768 Mn while it is increased to 1200 Mn during the financial years of 2008/2011. With comparing to sales growth during 2008/2009 which was Rs. 509 Mn with new strategies, the sales growth in 2010/2011 is three time higher than in 2008/2009.
The significant financial achievements in profits recorded with Rs.4 Mn in 2007/2008, Rs. 19 Mn in 2008/2009 then it increased to 51 Mn in 2009/2010 and also recorded net profit of Rs. 53 Mn in 2010/2011 as well.