Dubai – Mubasher: The net profits attributable to the equity holders of National Central Cooling Company (Tabreed) jumped by 5% to AED 388.002 million during the first nine months of 2021 from AED 370.444 million in the same period of 2020, as shown by the company's consolidated interim financials for the nine-month period ended 30 September 2021.
The company's revenues increased by 16% to AED 1.464 billion in the January-September period of 2021 from AED 1.257 billion in the year-ago period.
The basic and diluted earnings per share (EPS) stood at AED 0.143 in the first nine months of 2021, against AED 0.133 in the corresponding period of 2020.
During the third quarter (Q3) of 2021, the company's net profits rose to AED 154.503 million from AED 146.146 million in the corresponding period of 2020.
Tabreed’s Chairman, Khaled Abdulla Al Qubaisi, commented: "Tabreed continues to shine, posting more record results that demonstrate the effectiveness of its long-term strategy. Shrewd investments make for steady and manageable growth and this company’s rock-steady resilience is something everyone involved in can be proud of."
Meanwhile, Tabreed’s CEO, Khalid Abdullah Al Marzooqi, said: "The company experienced rapid and exceptional growth of its portfolio during 2020 and we are now seeing a real return on investment with steady, reliable, and efficient performance across our networks."
It is noteworthy to mention that during the first half (H1) of 2021, the company's net profits attributable to the equity holders increased by 4% to AED 233.499 million from AED 224.298 million in the same period of 2020.
