United Arab Emirates (UAE) cooling company Tabreed reported revenues of 91.235 million Emirati dirhams ($24.8 million) for the first half of fiscal year 2003, which ended June 30. This represents approximately a 100-percent increase over the same period in 2002.
Net profit rose more than 300 percent to Dh 12.5 million. At the end of the period, Tabreed shareholder's equity increased to Dh 528.8 million from Dh 519.8 million in December 31, 2002.
Tabreed has been providing cooling systems to many landmark buildings in the country including Shangri-La Hotel, Rotana Hotel and Tower One, in addition to many other residential, commercial and military projects in Abu Dhabi, Al-Ain, Ras Al-Khaimah and Fujairah. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
