Dubai – Mubasher: National Central Cooling Company (Tabreed) reported a 3.1% year-on-year increase in the net profit attributed to the equityholders of the parent to AED 329.109 million during the first nine months of 2019 from AED 319.334 million a year earlier.   

The group’s revenue increased by 3.5% to AED 1.127 billion in the nine-month period in 2019 when compared to AED 1.090 billion in the same period in 2018, according to a bourse statement on Sunday.

Meanwhile, earnings per share (EPS) remained unchanged at AED 0.12.  

During the third quarter this year, Tabreed reported a net profit of AED 129.7 million attributed to shareholders from AED 107.42 million in the same period a year earlier.

EPS stood at AED 0.05 in Q3-19 from AED 0.04 in Q3-18.

In this regard, Tabreed’s Chairman, Khaled Abdulla Al Qubaisi, commented, “Tabreed’s continued growth demonstrates its ability to consistently deliver stable results, drive shareholder value further and reinforce our standing as the leading international district cooling developer.”

He added, “We are committed to providing energy-efficient, cost-effective and environmentally friendly cooling solutions and contribute to the initiatives aimed at reducing carbon footprint in the region and preserving the environment and natural resources for present and future generations.”          

During the first half of 2019, Tabreed recorded an 11% year-on-year increase in its net profit attributable to the parent at recording AED 199.4 million.