Tabreed posts 22% increase in revenue

National Central Cooling Company PJSC (Tabreed), the Abu-Dhabi based utility company, has clocked 12% decent growth in gross income to Dh170.9 million compared to Dh152.5 million in fiscal 2008.

In the latest period, company's total revenue surged by 22% at Dh373.8 million, compared to Dh307.6 million in the same period in fiscal 2008.

Company's net income also witnessed a growth by 12% to Dh57.6 million compared to Dh51.4 million in the same period in 2008.

Chilled water revenue for the period stood at Dh148.2 million, up 21% over the same period in 2008. This was due to increase in chilled water sales as new plants came on stream and as seasonal demand increased.

Total sales also surged by 21,725 tons (10.3 per cent) compared to the first half of fiscal 2008.

Basic and diluted earnings per share were stable at Dh0.02 per share During the first half of fiscal 2009, Tabreed was successful in securing Dh368 million in Ijara financing from Abu Dhabi Commercial Bank.