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Tabreed's Q3 net profit rises 3%

Tabreed posted a 21 per cent increase in nine-month net profit

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The Dubai-listed firm made a third-quarter net profit of US $20.5mn
The Dubai-listed firm made a third-quarter net profit of US $20.5mn

UAE-based district cooling firm Tabreed , partly owned by Abu Dhabi state fund Mubadala , reported a three per cent rise in third-quarter net profit on the back of revenue growth in its chilled water business and lower financing costs.

The Dubai-listed firm made a third-quarter net profit of US $20.5mn compared with US $19.8mn in the corresponding period of 2012.

Tabreed, which provides cooling systems to residential and commercial properties in the Gulf, posted a 21 per cent increase in nine-month net profit to US $55mn, it said in a statement.

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