District cooling firm Tabreed, which is partly owned by Abu Dhabi state fund Mubadala, reported a 30 percent rise in quarterly profits on Sunday fueled by higher revenues from its core chilled water business.
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The Dubai-listed firm posted a net attributable profit of AED68.7m (US$18.7m) in the fourth quarter ended December 31, compared with AED52.9m in the prior year period.
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Tabreed provides cooling systems to residential and commercial properties in the Gulf region, including Dubai's metro network.
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Revenue from its chilled water business for the quarter was AED263.4m, up 13 percent. Tabreed, also called National Central Cooling Company, made 2012 net profit of AED236.3m, up 29 percent.
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http://www.arabianbusiness.com/uae-cooling-firm-tabreed-q4-profit-up-30--488128.html
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