Abu Dhabi: National Central Cooling Company (Tabreed), the Abu Dhabi-based regional district cooling utility company reported net profit of Dh63.4 million in the first quarter of 2016, up four per cent from Dh61.2 million for the same period in 2015.
Group revenue increased by 6.7 per cent to Dh255.5 million in the first quarter, the company said in a statement on Thursday. Core chilled water revenue has gone up by 3.7 per cent to Dh222.3 million compared to Dh214.4 million in the first quarter of 2015.
A dividend of 6 fils per share was paid to shareholders for 2015, an increase from 5 fils per share in 2014, according to the company.
Jasim Husain Thabet, Tabreed’s Chief Executive Officer said: “Tabreed has an industry leading regional presence, with 69 district cooling plants located throughout the GCC delivering over 977,000 RT (Refrigerated Tons) to many of the region’s critical infrastructure projects.”
“As we look ahead to the rest of the year, we expect this regional footprint to continue to underpin our strong performance, and to present us with potential growth opportunities, which Tabreed today has the financial strength and operational know-how to leverage.”
Tabreed provides district cooling services to Abu Dhabi’s Al Maryah Island, home to Cleveland Clinic Abu Dhabi and Abu Dhabi Global Market, and all the developments on Yas Island such as Ferrari World, Yas Marina Circuit and Yas Mall.
