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Tue 9 Nov 2010 09:36 AM

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UAE's Tabreed posts AED35m Q3 net profit

Net profit for the nine-month period stood at AED115.7m ($31.5m), company says

UAE's Tabreed posts AED35m Q3 net profit
COOLING COMPANY: In March, Mubadala stepped in to offer bridge financing after Tabreed reported a loss in 2009

Dubai's Tabreed  reported

a net profit attributable to shareholders of AED35m ($9.53m) for the June-September quarter on Tuesday.

Net profit for the nine-month period stood at AED115.7m, according to a company statement.

In March, Abu Dhabi investment vehicle Mubadala, which owns

a 16.7 percent stake in the district cooling firm, stepped in to

offer bridge financing after Tabreed reported a loss in 2009.

($1=AED3.672)

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