Tabreed reports first-half profits of AED 192.7 million

Khaled Abdulla Al Qubaisi

UAE, July 30: The National Central Cooling Company (Tabreed) has reported first-half consolidated profits of AED 192.7 million.

Speaking on this development, Khaled Abdulla Al Qubaisi, Chairman of Tabreed, said: “Tabreed has earned a leading position in District Cooling with a clear vision to deliver consistent and sustainable results to investors and shareholders. This is reflected in our robust performance in the first-half of 2017 with a net profit increase of 20% to AED 192.7 million. We will continue to deliver solid performance and growth driven by our core chilled water business with new capacity and connections added across the GCC region.” 

Al Qubaisi further added that the upcoming major investment by France-based ENGIE would further bolster Tabreed’s growth strategy. 

Jasim Husain Thabet, CEO at Tabreed, added: “Tabreed is going from strength to strength with a growing presence across the GCC region, where we are proud to cool down landmark projects and critical infrastructure developments. This is essential to drive business results and economic development. Profits from our associates and joint ventures have increased by 29 % to AED 62.4 million.”