UAE utility firm Tabreed's fourth-quarter net profit more than doubled, backed by strong performance at its core chilled water business and an increase in total capacity.
Dubai-listed Tabreed, which received funding from state-owned fund Mubadala to restructure debt last year, saw quarterly profit rise to Dh52.9 million ($14.40 million) from Dh21.1m year-ago, according to Reuters calculations.
Reuters calculated the fourth quarter profit from previous financial statements. The company reported a net profit of Dh129.8m for the nine-month period ending September 30, 2011.
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