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Al Ansari Financial Services PJSC and its subsidiaries have released a review report and condensed interim consolidated financial statements for the first quarter, covering the three-month period ending on March 31, 2025.
The text refers to the independent auditor's review report and the condensed consolidated interim financial statements of Emirates Reem Investments Company P.J.S.C and its subsidiaries, based in Dubai, United Arab Emirates. The report covers the unaudited financial performance of the company for the three-month period ending on March 31, 2025.
GFH Financial Group B.S.C. announced that its Board of Directors held a meeting on Tuesday, 14th May 2024, at 2:00 pm Bahrain time. During the meeting, they discussed and approved the financial results for the first quarter of 2024, ending on 31st March 2024, along with other internal matters. The financial results for the first quarter of 2024 are attached. The announcement was made by Mariam Jowhary, Head of Compliance & AML.
Tabreed, a leading district cooling company, reported its Q1 2025 financial results, showing increases in both EBITDA and net profit compared to Q1 2024. EBITDA rose by 4% to AED 283 million with a margin of 61%, while net profit after tax grew by 3% to AED 115 million. Key developments included raising USD 700 million through a Green Sukuk, which helped refinance debt and improve the balance sheet by converting short-term debt to long-term maturities and reducing net debt by 3%. Additionally, Tabreed announced a significant concession agreement with Dubai Holding Investments to provide district cooling services to Palm Jebel Ali, requiring an investment of AED 1.5 billion. This deal is the largest in the company's history, representing a major milestone. Shareholders also approved a cash dividend of 15.5 fils per share for 2024, yielding 5.6% at the current share price.