Tabreed reports increase in profits

05 November 2008
The UAE’s National Central Cooling Company (Tabreed) has reported a 6.9 per cent increase in third quarter profits.

The results were released in a statement to the Dubai Financial Market on 5 November.

Net profit in the three months to 30 September increased to AED15.5m ($4.2m), up from AED15.5m for the same period the previous year. Revenues grew by 13 per cent, from AED164m to AED185m.

Earnings per share remained unchanged on the previous year at AED0.01.

Net profit for the first nine months of the year is now AED74m, marginally up from the AED73m figure for the same period in 2007.

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