Tabreed profit jumps 8% to Dh400m

Dubai: National Central Cooling Company (Tabreed) on Wednesday reported that net profit increased 8 per cent, from Dh371.7 million in 2016 to Dh400 million in 2017.

The increase was supported by strong revenues, which went up 9 per cent to Dh1.4 billion in 2017.

Tabreed said in a statement it was well-poised for continued growth. The board of directors of the company proposed increasing cash dividends for 2017 to 8 fils a share, from 6.5 fils per share in 2016.