UAE Cooling Firm Tabreed’s Q1 Net Profit Rises 22%

The Dubai-listed firm made a first-quarter net profit of Dhs58.24 million ($15.86 million) compared with Dhs47.84 million a year earlier.



District cooling firm Tabreed, partly owned by Abu Dhabi state fund Mubadala , posted a 22 per cent increase in quarterly profit on Monday on the back of increase in its core chilled water business.

The Dubai-listed firm made a first-quarter net profit of Dhs58.24 million ($15.86 million) compared with Dhs47.84 million a year earlier.

Its core chilled water revenue increased by three per cent to Dhs208.2 million, the company said in a statement.