Dubai – Mubasher: National Central Cooling Co. (Tabreed) on Sunday announced the board’s appointment of Paulo Almirante as vice chairman.

The announcement follows the board’s resolution taken on 7 November 2017, according to a filing to the Dubai Financial Market (DFM).

The cooling company last reported a 12% year-on-year decline in net profits to AED 96.35 million ($26.23 million) in the third quarter of 2017, compared to AED 109.39 million ($29.77 million).

On the other hand, Tabreed’s revenues had increased 7.4% to AED 409.81 million in Q3-17 from AED 381.68 million in the year-ago period.