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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Tabreed 2023 revenue up 9%

During 2023, Tabreed reported a growth of 9% in revenue and an increase of 25% in net profit before tax to parent.
  • Tabreed’s Board of Directors has recommended a record high dividend payment of 15.5 fils per share in cash.
  • Net cash from operating activities totaled AED 1.31 billion in 2023 (AED 1.35 billion in 2022), while free cash flows increased by 8 percent to AED 1.21 billion.

Abu Dhabi, UAE — UAE’s district cooling company Tabreed posted a revenue of AED 2.4 billion ($653 million), a 9 percent increase over 2022, and a net profit attributable to parent, before deferred tax, of AED751 million ($204 million).

Tabreed’s said its net debt decreased in 2023 thanks to strong cash generation and a decline in gross debt due to a proactive debt management exercise carried out during the year.

As a result of prudent financial management, the company achieved reductions in its net finance costs by 24 percent, despite a high interest rate environment, it added.

Net cash from operating activities totaled AED 1.31 billion in 2023 (AED 1.35 billion in 2022), while free cash flows increased by 8 percent to AED 1.21 billion, driven by strong operating income, continued investment in growth and streamlining of existing asset portfolio.

Tabreed’s Board of Directors has recommended a record high dividend payment of 15.5 fils per share in cash. This represents an increase of 15 percent over 2022.

During 2023, with the enactment of UAE corporate tax law, there was a one-off, non-cash accounting impact due to recognizing a deferred tax liability amounting to AED 359 million, resulting in a reported net profit of AED431 million for the year.