Dubai – Mubasher: National Central Cooling Co (Tabreed) on Wednesday reported an 11.8% year-on-year surge in profits for the fourth quarter of 2017.
Net profit amounted to about AED 109.7 million ($29.86 million) in Q4-17, versus AED 98.1 million ($26.7 million) in Q4-16, Tabreed said in a filing to the Dubai Financial Market (DFM).
Meanwhile, net profit went up 9% to AED 400.1 million in 2017, from AED 367.4 million in 2016.
Earnings per share (EPS) rose 9% to 14.7 fils in 2017, compared to EPS of 13.5 fils in 2016.
Revenue grew 9% to AED 1,399.4 million in 2017, from AED 1,279.9 million in 2016.
Share of results of associates and joint ventures leaped 10% to AED 128.8 million in 2017, versus AED 117.0 million in 2016.
Given that Tabreed’s net profit hiked 22% year-on-year in the first nine months of 2017 to AED 289.30 million, compared to AED 237.22 million in the January-September period of 2016.
