Tabreed,a district cooling company based in Abu Dhabi, reported a 15 per cent rise in profit in the first quarter as the company focused on chilled water and stripped away more of its non-core business.
Net profit reached Dh36.8 million (US$10m), up from Dh31.9m in the first quarter of last year, the firm said yesterday.
"Our performance in the first quarter builds upon last year's achievements in establishing Tabreed as a stable utility business," said Waleed Al Muhairi, the chairman of Tabreed.
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