Tabreed reports $23.28m net profit in Q1'21

Tabreed reports $23.28m net profit in Q1'21
ABU DHABI, 5 days
ago
The National Central Cooling Company (Tabreed), headquartered in the UAE, reported a net profit of AED85.5 million ($23.28 million) in the first quarter of 2021, a YoY growth of 4%.
 
Despite ongoing, significant market challenges, both regionally and internationally as a result of the global pandemic, Tabreed’s revenue has continued to grow, along with its portfolio of district cooling networks, a WAM report said. 
 
Recent acquisitions include the Downtown Dubai district cooling scheme in a long-term partnership with Emaar, as well as Saadiyat Island’s plants, from its long-term partner, Aldar – a deal financially closed in April 2021.

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