Tabreed records 13pc growth in Q3 net profit
- Date: 13-Nov-2020
- Source: Trade Arabia
- Sector:Financial Markets
- Country:UAE
Tabreed records 13pc growth in Q3 net profit
UAE-based National Central Cooling Company (Tabreed) has maintained a strong performance in a challenging environment amid Covid, and was able to outperform several key metrics year-on-year (YoY).
Announcing the financial results for the third quarter, Tabreed said its net profit surged 13 per cent to AED370 million ($101 million), up 13 per cent over last year's figures of AED329 million, whilst total revenue also increased by 12 per cent YoY to AED1.25 billion.
"The results demonstrate that Tabreed's flexible and dynamic strategy has adapted well ensuring business continuity and pursuing growth," said its Chairman Khaled Abdulla Al Qubaisi.
"The company has proceeded to take every precaution to ensure its services remain uninterrupted, whilst also adopting industry-leading health and safety practices and sanitisation programmes to ensure the safety of its staff, customers and suppliers,"
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