The National Central Cooling Company, better known as Tabreed, reported a 10.5 per cent rise in third-quarter revenue, driven by new connections and higher demand from existing customers.
Revenue for three months to the end of September rose to Dh755.39 million ($205.6 million), the company said in a filing on Wednesday to the Dubai Financial Market, where its shares are traded.
However, Tabreed reported a net loss attributable to equity holders of the parent company of Dh101.26 million for the third quarter, compared with a net profit Dh159.25 million in the same period last year, as it recorded an income tax expense of Dh358.79 million.
“Tabreed continued to capitalise on its regional presence, growing rapidly and strategically across its core markets, domestically in the UAE and regionally across GCC and Asia,” said Khaled Al Qubaisi, Tabreed’s chairman.
“Our new projects and capacity additions throughout the period continue to demonstrate the attractiveness of district cooling in Tabreed’s key markets.”