Tabreed’s net profit surges to AED 269mn

Abu Dhabi / Emirates Business

National Central Cooling Company PJSC (‘Tabreed’), the leading UAE-based district cooling utility infrastructure company, on Thursday released its 2016 third quarter consolidated financial results. Tabreed continues its strong performance, connecting more than 30,000 Refrigeration Tons (RT) to customers in key markets across the GCC, including the Dubai Parks and Resorts, which enabled it to surpass 1 million RT.
Waleed Al Mokarrab Al Muhairi, Tabreed’s Chairman, said: “Tabreed’s ongoing momentum imparts strength and confidence. It demonstrates our ability to consistently deliver stable returns for our shareholders and reinforces our standing as one of the region’s leading district cooling companies. Our strong quarterly performance is accompanied by Tabreed surpassing 1 million Refrigeration Tons, a significant milestone that positions us for continued growth. This is a sound testament to the steady increase in the number of companies across the region that are actively looking to utilize energy-efficient and environmentally-friendly cooling solutions for their projects.”
Jasim Husain Thabet, Tabreed’s Chief Executive Officer, added: “The achievement of our recent milestone with one of the largest multi-themed leisure and entertainment destinations in the Middle East, Dubai Parks & Resorts, showcases our commitment to deliver district cooling services to iconic projects enabling energy savings leading to a positive
contribution to the environment.”
“Our strong and consistent performance demonstrates our robust business strategy which is aimed at future growth across the UAE and GCC. We remain intensely focused on shareholder returns and identifying opportunities that increase our presence locally and throughout the region. We will continue to leverage our operational knowledge and capabilities to sustainably grow our business and contribute to the region’s growth.”
Today, Tabreed provides its district cooling services to many of the region’s landmark projects including all of the developments on Abu Dhabi’s Al Maryah Island, home to Cleveland Clinic Abu Dhabi and Abu Dhabi Global Market, and all of the developments on Yas Island such as Ferrari World, Yas Marina Circuit and Yas Mall, in addition to other national and regional landmarks including Sheikh Zayed Grand Mosque, Dubai Metro, Pearl Island in Qatar, and Aramco Development Project in Al Dhahran in the Kingdom of Saudi Arabia.