Tabreed’s earnings grow 4% Y-o-Y to AED63 million in 1Q2016
National Central Cooling Company (Tabreed) (TABR.DU) earnings grew in 1Q2016 3.6% Y-o-Y to reach AED63 million. Revenue grew at a higher pace (+6.7%) to reach cAED256 million; core chilled water revenue increased by 3.7% to AED222 million. Tabreed’s EBITDA grew by 4.9% to reach AED125 million, while share of profits from associates grew a significant 26% to AED22 million. Total Group connected capacity across the GCC increased to 977,037 RT. (Company Disclosure)
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