Tabreed's Q3 net profit rises 3%
Tabreed posted a 21 per cent increase in nine-month net profit
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.