Tabreed Reports on Finances, Financing

摘要

National Central Cooling Company PJSC (Tabreed'), the Abu Dhabi-based utility company, released its unaudited 2009 year-end financial results in early March. The results revealed that for the 12 months ended Dec. 31, 2009, total revenues were AED 742 million ($202 million) - a slight increase over 2008 figures. Tabreed's gross profit was AED 291 million ($79 million) in 2009. After finance costs, however, results from associated companies, a non-cash impairment charge and other items, Tabreed recorded a loss of AED 1,118 million ($304 million) for the year. This compares with a profit of AED 73 million ($20 million) in 2008.