Tabreed's first half results

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'65039';

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    {
        'caption' => 'Tabreed’s Chairman, Mr. Mohamed Saif Al Mazrouei ',
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        'name' => 'Mohd.jpg',
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This represents an increase of AED 94,445,000 over the company's revenues for the first half of 2004. Profit from operations soared to AED 49,156,000 compared to AED 18,598,000 over the same period in the previous year. Net profit rose more than 160-percent to AED 31,510,000 from AED 12,107,000 in the first half of 2004.

At the end of the period, the company's total assets increased to AED 2,363,365,000 from AED 1,660,504,000 in December 31, 2004. Shareholder's equity expanded significantly to reach AED 1,096,578,000 up from AED 570,694,000 at the yearend of 2004.

Commenting on the company's first half results Tabreed's Chairman, Mr. Mohamed Saif Al Mazrouei said: 'the first half of the year witnessed a very positive performance from Tabreed which continues to grow at an exceptional fast pace with a revenue growth of 98% which resulted in a 160% increase in the company's net profit over the same period of 2004. This attributed mainly to the additional contributions from a significant number of new district cooling schemes in the UAE and abroad.'