Tabreed cools off debt while quarterly profits rise by 37% - The National:
"Tabreed, the world’s largest district cooling company, reduced debt and increased profits by more than a third in the second quarter in spite of lower sales.
Net profit at the company, which is partially owned by Mubadala, increased 37 per cent to Dh79.4 million during the three months from April compared with the same period the previous year, while group revenues fell 6 per cent to Dh278m.
Tabreed, which provides chilled water-based cooling to buildings and developments such as Dubai’s Metro, said the reduction in revenues was part of its long-term strategy to wind down its less profitable non-core businesses such as pipe manufacturing."
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