Tabreed logs AED 211.9m profit in H1

Tabreed logs AED 211.9m profit in H1
Tabreed generated around AED 134.34 million in profits during Q2-18
Tabreed
TABREED
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Dubai – Mubasher: National Central Cooling Company (Tabreed) on Thursday posted a 10% year-on-year increase in net profit for the first half of 2018, recording AED 211.9 million, versus AED 192.7 million.

The company’s revenue went up by 2% to reach AED 650.7 million at the end of June, compared to AED 639.2 million in H1-17, according to a filing to the Dubai Financial Market (DFM).

Moreover, core chilled water revenue rose by 2% to AED 617.3 million in H1-18, from AED 602.3 million in the corresponding period of 2017.

In the second quarter of 2018, Tabreed generated around AED 134.34 million in profits, compared to AED 117.5 million in the year-ago period.

Revenues amounted to AED 376.247 million in the three-month period ended June, up from AED 369.08 million in Q2-17.

Tabreed previously posted a 3% year-on-year increase in net profit for Q1-18, recording AED 77.7 million from AED 75.4 million.