Tabreed breaks profit record

District cooling company Tabreed has posted a record-breaking annual net profit for the financial year 2006, with an increase of 104.1% over 2005

District cooling company Tabreed has posted a record-breaking annual net profit for the financial year 2006, with an increase of 104.1% over 2005.

The company's net profit increased to US$ 28.6 million compared to $14 million in 2005.

The UAE-based company, with operations in six countries, generated revenues of $128.73 million in 2006 - an increase of 18% over 2005 - and posted a gross profit of $51.78 million, up from a previous 2005 high of $41.61 million.

 

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