Al-Ittihad Newspaper – 224 million dirhams “cooling” profits in the first half


Abu Dhabi (Al Ittihad)

The National Central Cooling Company “Tabreed” achieved a net profit of 224.3 million dirhams during the first half of this year, in which “Tabreed” acquired Emaar’s cooling business in the downtown area of ​​Dubai, according to a long-term partnership agreement with “Emaar Properties”. To provide up to 235 thousand tons of cooling to the most prominent projects and destinations in the Emirate of Dubai, through the largest system of integrated energy with high efficiency in the world.
The company said in a statement issued yesterday: «Tabreed» maintained in light of the global spread of the epidemic “Covid-19”, the progress of its operations and the provision of the best solutions for district cooling, without interruption, to all of its customers, taking into account the guarantee of safety and security of the company’s employees, and commitment to the program National sterilization during these difficult times ».
The net profit attributable to the parent company increased by 13%, to 224.30 million dirhams, compared to 199.36 million dirhams in the first half of 2019, and the group’s revenue increased 6%, to 710.02 million dirhams, compared to 671.94 million dirhams in the first half of 2019.
Khaled Abdullah Al Qubaisi, Chairman of Tabreed, said: “The continuous growth of Tabreed is a reflection of our commitment to meet the growing demand in the region for energy efficient and environmentally friendly refrigeration solutions. We have made steady progress towards implementing our sustainability goals this year, and as we look to the future, we will continue to utilize our knowledge and operational capabilities towards sustainable growth, with a continuous contribution to sustainable development in the region. More importantly, Tabreed continued to enhance its portfolio of high profile projects by acquiring refrigeration activity in the downtown area of ​​Dubai, during the second quarter of 2020, through a historic partnership with Emaar.
For his part, Badr Saeed Al-Lamki, CEO of Tabreed, said: “Tabreed has achieved a leading position in the district cooling sector, with a clear vision to provide consistent and sustainable results for investors and shareholders. Our focus will continue to provide high-quality and sophisticated solutions and services to meet the growing cooling needs in the region, and achieve sustainability goals. We are well positioned to seize growth opportunities, despite an unprecedented global epidemic. ”


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