Tabreed's Board Approves Un-Audited Interim Accounts: A Deep Dive Into the Details
In a recent board meeting, the National Central Cooling Company (Tabreed) approved the Un-Audited Interim Accounts for the period ending 31 March 2024. This article provides an in-depth analysis of the implications of this decision.
Summary
Tabreed, a UAE-based utility company, recently held a board meeting approving the release of its Un-Audited Interim Accounts for Q1 2024. The company's performance and future prospects are analyzed in this article.
Tabreed, founded in 1998 and listed on the Dubai Financial Market, has been a key player in providing energy-efficient, cost-effective, and environmentally-friendly year-round district cooling solutions in the GCC. With 83 plants across the GCC and delivering over a million Refrigeration Tons (RT) to major government, commercial, and residential projects, Tabreed has certainly made its mark in the region's infrastructure.
Despite the company's impressive track record and significant market cap of 9,929,996,034, the future outlook remains neutral. This is primarily due to the company's 3-month yield of 0.0% and a marginal 1-month yield of 0.12%. These figures indicate that while Tabreed has been a steady player in the market, it has not demonstrated any significant growth or decline in the recent past.
Investors considering Tabreed as a potential addition to their portfolio should weigh these factors. The company's stability and significant role in the region's infrastructure make it a safe bet. However, the lack of significant growth in the recent past might be a concern for those seeking high returns.
Source
Summary
On 14 May 2024, a board meeting was held by the National Central Cooling Company (Tabreed). The meeting, in accordance with Disclosure and Transparency Regulations number 3 of 2000, approved the Un-Audited Interim Accounts of the company for the period ending 31 March 2024. The board also approved the release of these accounts and a press release to the Securities and Commodities Authority and the Dubai Financial Market.