Dubai – Mubasher: National Central Cooling Company (Tabreed) logged a net profit before tax attributable to the parent company worth AED 751.40 million in 2023, up 25% year-on-year (YoY) from AED 600.20 million, according to a press release.
Group revenue grew by 9% YoY to AED 2.40 billion last year from AED 2.20 billion in 2022.
Total basic and diluted earnings per share (EPS) attributable to ordinary equity holders reached AED 0.15 in 2023, down from AED 0.21 a year earlier.
Based on the company’s income statements, profit before tax jumped to AED 785.38 million last year from AED 633.40 million in 2022.
Khaled Abdulla Al Qubaisi, Chairman of Tabreed, said: “This time last year I spoke about Tabreed’s carefully planned growth and taking our globally renowned expertise into new markets. We spent 2023 making good on that promise and now operate in six countries, including India, supplying sustainable cooling to our prestigious clients.”
“This is just the beginning and, over the next few years, we will continue to capitalise on Tabreed’s unrivalled history and world-leading experience by aggressively, yet considerately, targeting opportunities for expansion,” Al Qubaisi added.
He highlighted: “Opportunities that will provide healthy returns for our investors while benefiting the countries and communities in which we operate. International demand for our services is growing considerably and these results prove we are ready, willing and able to respond like no other company.”
Cash Dividends
Tabreed’s board of directors have recommended the disbursement of AED 441.01 million in cash dividends, or AED 15.50 per share, for the financial year that ended on 31 December 2023.
It is worth noting that the Abu Dhabi-listed company posted AED 285.13 million of net profits attributable to the equity holders during the first nine months (9M) of 2023, down from AED 399.61 million in the same period the year before.
