The company's 2007 revenues increased to Dhs549m, a 17% up over 2006.
Additionally, the UAE-based company generated gross profit of Dhs237.237m, an increase from Dhs189.020m. As a result, there was an improved 19% of the net profit, (excluding the one-time gain of Dhs40.552m resulted from the gain on sale of some plants in 2006).
"2007 was a year of significant and continuous achievement for Tabreed," said the company's Chairman, Mohamed Saif Al Mazrouei. "We generated solid earnings and cash flow, set new company records for chilled water output."
"By a considerable margin, currently, we have now the strongest financial outlook in the company's history. We anticipate even brighter outlook for many years to come," he added.
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Tabreed 2007 earnings up by 26%, revenue reaches Dhs549m
- United Arab Emirates: Wednesday, February 13 - 2008 at 16:03
- PRESS RELEASE
Tabreed, the Middle East's award-winning district cooling pioneer, has posted an increase of 26% in earnings from continuing operations as compared to 2006.
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Notes and media contacts
For further information:Rita Chahoud
PR and Communications Manager
Tabreed
Tel: +971 4 3404422
Fax: +971 4 340
Posted by Medilyn Manibo, Assistant News EditorWednesday, February 13 - 2008 at 16:03 UAE local time (GMT+4)
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This article was updated on Thu Feb 14 2008.
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