Tabreed's H1 profits surge to Dh12.5m

DUBAI - National Central Cooling Co (Tabreed) has reported Dh12.5 million net profits for the first half this year, up by 300 per cent compared to the same period last year.

By A Staff Reporter

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Published: Wed 13 Aug 2003, 11:47 AM

Last updated: Wed 1 Apr 2015, 7:49 PM

The company also reported Dh91.23 million, for the first half approximately a 100-per cent increase over the first half last year. At the close of the first six months this year, its shareholder's equity increased to Dh5.28 billion from Dh5.19 billion at the end of last financial year.

Dany Safi, Tabreed's managing director said: "Despite the seasonal nature of the cooling business where chilled water consumption peaks during the summer and fall seasons in the third and fourth quarters, Tabreed has managed to have very good results for the first six months of the year in terms of productivity and profitability. Therefore, we are very pleased with this performance and have the confidence to meet our shareholders expectations."

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