Arab Today, arab today tabreed posts 25 increase in h1 profit
Last Updated : GMT 05:56:37
Arab Today, arab today
Arab Today, arab today

Tabreed posts 25% increase in H1 profit

Arab Today, arab today

Arab Today, arab today Tabreed posts 25% increase in H1 profit

Dubai - WAM

National Central Cooling Company (Tabreed), the Abu Dhabi-based district cooling utility company, released its consolidated first half (H1) 2012 financial results. The company registered a robust operational and financial performance in H1 2012 driven by its core chilled water business and lower finance costs. Net profit attributable to the parent company increased by 25 per cent to Dhs94.7 million (H1 2011: Dhs75.7 million). Chilled water revenue increased by 5 per cent  to Dhs444.9 million (H1 2011: Dhs425.6m). Group revenue declined by 3 per cent to Dhs515.7 million in line with expectations as the company continues to phase out its non-core value chain businesses. Chilled water profit from operations increased by 20 per cent  to Dhs155.5 million (H1 2011: Dhs129.8 million) as the company generated further value from its economies of scale and enhanced efficiencies. EBITDA increased by 9 to Dhs223m (H1 2011: Dhs204.7 milion). Net finance costs decreased by 33 per cent  to Dhs87.2 million (H1 2011: Dhs129.5 million) due to the completion of the recapitalisation programme in 2011. Installed capacity in the UAE reached 605,325 RT and connected capacity 570,812 RT Waleed Al Mokarrab Al Muhairi, Tabreed’s Chairman, said: “In the first six months of 2012, Tabreed delivered strong financial and operational results underpinned by continued cost control, improved efficiencies and a strong performance by the company’s chilled water business. In line with our strategy, we remain focused on growing this segment while delivering sustainable returns and creating long-term value for our stakeholders.” Sujit Parhar, Tabreed’s CEO, added: “The underlying strength of our chilled water business is reflected in our first half performance and as we look ahead to the rest of 2012, the company will continue to enhance operational efficiencies and achieve greater yields from its existing plants.” “Today, Tabreed delivers over 727,000 RT of cooling to customers across the region, and has established itself as the partner of choice for leading government and private organizations in the GCC,” added Parhar. Tabreed currently has 59 plants in the UAE — 52 are wholly-owned and operated by the company and seven are operated through its affiliates and subsidiaries. The company also has six plants in the GCC, namely in Bahrain, Oman, Qatar and Saudi Arabia, which it operates through its affiliates and subsidiaries. From gulftoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today tabreed posts 25 increase in h1 profit Arab Today, arab today tabreed posts 25 increase in h1 profit

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 01:04 2017 Tuesday ,28 February

Nokia 3310 is back — and so is 'Snake'

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday