The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
DUBAI / WAM
The National Central Cooling Company, Tabreed released its 2017 first quarter financial results. Tabreed’s performance benefited from the new connections made last year, in addition to over 20,000 refrigerated tonnes, RT, added during Q1 2017. These new connections, combined with Tabreed’s existing presence in the GCC, resulted in net profit increasing by 19 percent to AED75.4 million.
Tabreed’s Board of Directors also appointed Khaled Abdulla Al Qubaisi as Tabreed’s Chairman, succeeding Waleed Al Mokarrab Al Muhairi, who was instrumental in guiding the company through its recapitalisation and return to profitability.