Tabreed's Board Approves Un-Audited Interim Accounts: A Deep Dive Into the Details

The National Central Cooling Company, commonly known as Tabreed, recently held a board meeting on 14 May 2024. In line with Disclosure and Transparency Regulations number 3 of 2000, the board approved the Un-Audited Interim Accounts for the period ending 31 March 2024. This decision was also accompanied by the approval to release these accounts and a press release to the Securities and Commodities Authority and the Dubai Financial Market.

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.