Thursday , November 23 2017

Tabreed profit up 8%

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ABU DHABI / WAM

National Central Cooling Company, Tabreed, released its nine months financial results ending on September 30. In a statement, Tabreed said, “Net profit increased by 8 percent to AED 290.4 million comparing to AED269.3 million for Q3 2016, group revenue increased by 9 percent to AED1049.1 million comparing to AED 960.3 million for Q3 2016, core chilled water revenue increased by 14 percent to AED993.5 million comparing to AED 870.6 million for Q3 2016.
The statement also added that EBITDA increased by 7 percent to AED464.6 million comparing to AED434.8 million for Q3 2016, and that share of results of
associates and joint ventures
increased by 14 percent to AED91.0 million comparing to AED79.9 million for Q3 2016.
Commenting on the results, Khaled Abdulla Al Qubaisi, Tabreed’s Chairman, said, “Tabr-eed’s continuing growth for the third quarter of 2017 reinforces our position as a leading and best in-class district cooling company. It reiterates the confidence of our shareholders in our ability to execute our strategy and deliver consistent results.”
Jasim Husain Thabet, Tabreed’s Chief Executive Officer, said, “Our ongoing growth reflects our commitment to meet the region’s growing demand for energy-
efficient and environmentally-friendly cooling solutions.”

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