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ABU DHABI / WAM
National Central Cooling Company (Tabreed) released its audited 2017 financial results.
The company ended the year with a robust performance, adding 43,900 RT to its cooling capacity across the GCC in 2017.
Tabreed posted 9% percent higher net profit, reaching AED400.1 million. Based on the strong results, Tabreed’s Board of Directors recommended increasing cash dividends for 2017 to 8 fils per share (up from 6.5 fils per share for 2016).
Commenting on the results, Khaled Abdulla Al Qubaisi, Tabreed’s Chairman, said, “The strength of Tabreed’s performance in FY 2017 reflects a
clear strategic focus, which enabled the company to extend its footprint and regional market leadership.
Tabreedachieved another year of healthy sales with net profit growth of 9% to AED 400.1 million.
Furthermore, Tabreed welcomed global energy leader ENGIE to the group during the year, which will support the company in further capturing the growing regional district cooling market opportunities, aligned with the rapid urbanization witnessed across the GCC region.â€