Dubai – Mubasher: The net profits attributable to the equity holders of National Central Cooling Company (Tabreed) increased by 13% to AED 370.44 million in the January-September period of 2020 from AED 329.11 million in the year-ago period.
The company's revenues amounted to AED 1.257 billion during the first nine months of 2020, up 12% from AED 1.127 billion in the same period of 2019, according to the company's consolidated interim financials for the period ended on 30 September 2020.
The basic and diluted earnings per share (EPS) settled at AED 0.14 in the January-September period of 2020, compared to AED 0.12 in the corresponding period of 2019.
In the third quarter (Q3) of 2020, the company's net profits reached AED 146.146 million, up from AED 129.746 million in the prior-year period.
The company's earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 20% to AED 677 million in the period ended on 30 September 2020 from AED 563 million in the year-ago period.
Tabreed’s CEO, Bader Al Lamki, said: "Tabreed remains well-positioned from an operational and capital perspective despite the uncertainties and challenges brought on by this year’s events, as reflected by the resilient and strong performance of our businesses."
It is noteworthy to mention that in the first half (H1) of 2020, the company's net profits jumped by 13% to AED 224.30 million, compared to AED 199.36 million in H1-19.
