Tabreed delivers 13% YoY increase in net profit to $100.7m in Q3 2020

By District Energy posted 11-16-2020 19:09

  

Construction Week

Dubai Financial Market-listed district cooling developer, the National Central Cooling Company (Tabreed), has revealed its financial results for Q3 2020, reporting a 13% year-on-year (YoY) increase in its net profit to $100.73m (AED370m) in Q3 2020, compared to the same period in 2019.

Tabreed maintained a strong performance in a challenging environment, and the company was able to outperform several key metrics year-on-year, with its total revenue also increasing by 12% YoY, to $342.4m (AED1.26bn) in Q3 2020.

The district cooling developer’s core chilled water revenue increased 14%YoY to $331.88m (AED1.22bn) in Q3 2020, compared to $292.13m (AED1.07bn) during the same period in 2019.

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