Dubai – Mubasher: National Central Cooling Company (Tabreed) registered AED 386.39 million in net profit attributable to the owners during the first half (H1) of 2023.
The recorded net profits were higher year-on-year (YoY) than AED 240.36 million, according to the financial statements.
Revenues hit AED 1.06 billion as of 30 June 2023, higher than AED 975.72 million in H1-22.
In the first six months (6M) of 2023, the basic and diluted earnings per share (EPS) amounted to AED 0.13, an annual jump from AED 0.08.
Financial Results for Q2-23
The net profits attributable to the shareholders of Tabreed amounted to AED 150.03 million in the second quarter (Q2) of 2023, versus AED 152.15 million in the year-ago period.
Revenues increased to AED 603.77 million in Q2-23 from AED 555.79 million in Q2-22.
Khaled Abdulla Al Qubaisi, Chairman of Tabreed, said: “Following last year’s strong performance, Tabreed is delighted to report further growth in revenue and profits YoY for H1-23.”
“The addition of new capacity across the GCC and the launch of our first cooling services in India is not only supplying our growing international customer base with efficient and reliable cooling but also having a significant impact on preventing carbon emissions,” Al Qubaisi highlighted.
He indicated: “A continued focus on achieving operational excellence and attracting the best talent will stand us in good stead for the second half of the year and into 2024.”
Last year, the DFM-listed firm logged 3% higher net profits attributable to the equityholders at AED 600.18 million, compared to AED 585.15 million in 2021.
