Abu Dhabi: National Central Cooling Company (Tabreed) reported on Thursday an increase in its year-to-date net profit by 21 per cent to reach Dh244 million — up from Dh202.3 million in the same period last year.
Meanwhile, the group revenue hit Dh870.7 million, marking a five per cent increase from the Dh826.5 million in the same time in 2013.
“It has been another quarter of growth driven by improved operation efficiencies, reduced finance costs, and a 12 per cent increase in connections as real estate projects in our key markets continue to come online,” said Jasim Hussain Thabet, Tabreed’s chief executive officer.
He added, “Today, bolstered by major connections in Qatar, Saudi Arabia, and the UAE, our total group capacity approaches one million tonnes of cooling delivered to developments that aim to diversify and grow these nations’ respective economies.”
Along with nearly 100,000 refrigerated tonnes of new customer connections added during the year, Tabreed signed a long-term agreement to supply cooling services to the new Dubai Parks and Resorts development in Jebel Ali.
Tabreed currently has 67 district cooling plants across the GCC, and provides cooling services to Shaikh Zayed Grand Mosque, Dubai Metro, Cleveland Clinic Abu Dhabi, Al Maryah Island, among other landmarks.
