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Tabreed posts 4% higher profits in Q1-21

Tabreed posts 4% higher profits in Q1-21
The company generated revenues of AED 357.555 million in Q1-21
Tabreed
TABREED
-1.06% 2.81 -0.03

Dubai – Mubasher: The net profits attributable to the equity holders of National Central Cooling Company (Tabreed) rose by 4% to AED 85.536 million in the first quarter (Q1) of 2021, compared to AED 82.217 million in the corresponding quarter of 2020, according to the company's consolidated interim financial results for the three-month period ended 31 March 2021.

The company generated revenues of AED 357.555 million in Q1-21, up 21% from AED 294.359 million in the year-ago period.

The basic and diluted earnings per share (EPS) settled at AED 0.032 in the first three months of 2021, against AED 0.030 in the same period of 2020.

It is noteworthy to mention that in 2020, Tabreed's net profits amounted to AED 550.342 million, 16.5% higher than AED 472.479 million in 2019.