Tabreed reports $23.28m net profit in Q1 21
ABU DHABI, 5 days ago The National Central Cooling Company (Tabreed), headquartered in the UAE, reported a net profit of AED85.5 million ($23.28 million) in the first quarter of 2021, a YoY growth of 4%. Despite ongoing, significant market challenges, both regionally and internationally as a result of the global pandemic, Tabreed’s revenue has continued to grow, along with its portfolio of district cooling networks, a WAM report said. Recent acquisitions include the Downtown Dubai district cooling scheme in a long-term partnership with Emaar, as well as Saadiyat Island’s plants, from its long-term partner, Aldar – a deal financially closed in April 2021.
Tabreed reports Dhs85.5 million net profit
10 May 2021 Tabreed’s revenue has continued to grow along with its portfolio of district cooling networks. The National Central Cooling Company (Tabreed), headquartered in the UAE, on Monday released its consolidated financial results for the first three months of 2021, reporting a net profit of Dhs85.5 million, a YoY growth of 4 per cent.
Despite ongoing, significant market challenges, both regionally and internationally as a result of the global pandemic, Tabreed’s revenue has continued to grow, along with its portfolio of district cooling networks. Recent acquisitions include the Downtown Dubai district cooling scheme in a long-term partnership with Emaar, as well as Saadiyat Island’s plants, from its long-term partner, Aldar - a deal financially closed in April 2021.
Tabreed reports AED85.5 million net profit in Q1 21
ABU DHABI, 9th May, 2021 (WAM) The National Central Cooling Company PJSC (DFM: Tabreed), headquartered in the UAE, today released its consolidated financial results for the first three months of 2021, reporting a net profit of AED 85.5 million, a YoY growth of 4 percent.
Despite ongoing, significant market challenges, both regionally and internationally as a result of the global pandemic, Tabreed’s revenue has continued to grow, along with its portfolio of district cooling networks. Recent acquisitions include the Downtown Dubai district cooling scheme in a long-term partnership with Emaar, as well as Saadiyat Island’s plants, from its long-term partner, Aldar – a deal financially closed in April 2021.
Mohammed Abdulla Alqubaisi, chairman of Insurance House.
Cash equivalents and fixed deposits with rated financial institutions account for nearly 19.28 per cent of total assets as of March 31, 2021.
Insurance House (IH) registered a 28 per cent increase in net profit to reach Dh4.01 million in the first three months of 2021, compared to a net profit of Dh3.14 million registered in the corresponding period of the previous year, demonstrating a robust performance that affirms its position in the insurance sector.
“Insurance House’s noticeable increase in net profits allows it to maintain its strong position in the sector and confirms that it is well positioned to take advantage of the predicted upswing in economic activity,” Mohammed Abdulla Alqubaisi, chairman of Insurance House.
Tabreed is interested in Dubai airport district cooling deal
Staff Report/Abu Dhabi Filed on February 15, 2021
With 86 district cooling plants, Tabreed services developments such as the Burj Khalifa, the world’s tallest skyscraper, the Dubai Opera and the Dubai Mall. Supplied photo
Tabreed reported a 16.5 per cent increase in 2020 net income to Dh550 million while the group revenue increased by 14.5 per cent to Dh1,741 million
National Central Cooling Co, popularly known as Tabreed, is interested in acquiring the district cooling unit that serves Dubai International Airport, its chief executive Bader Al Lamki said on Monday.
The Dubai-listed Tabreed has been on a shopping spree during the Covid-19 pandemic, snapping up assets in locations such as Abu Dhabi’s Saadiyat Island, home to a Louvre museum. It also acquired an 80 per cent stake in Dubai developer Emaar’s downtown district cooling business for Dh2.48 billion ($675 million).