Revenue for the period went up four per cent to reach Dh227.2 million, the company said in a statement. It attributed its performance to the core chilled water business, as more than 16,000 refrigerated ton of new connections were made in the first quarter of the year.
"Our strong performance in Q1 resulted from our ability to connect new clients to existing plants primarily in the
"As economies in the
The company also benefited from decreased finance cost, which dropped 15 per cent compared to Q1 2013 to reach Dh32.7 million.
The first quarter of this year saw Tabreed's revenue from the chilled water business climb three per cent to Dh208.2 million. Meanwhile, chilled water profit from operations increased three per cent to Dh76.6 million compared to Q1 2013.
In an emailed statement to
Tabreed currently has 66 district plants across the GCC, and provides its cooling services to many of the region's landmark projects including the Shaikh Zayed Grand Mosque;
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