Tabreed 06 Prospectus - London Stock Exchange

NATIONAL CENTRAL COOLING COMPANY (PJSC)
NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
31 March 2006 (Unaudited)
1 ACTIVITIES
National Central Cooling Company PJSC (‘‘the Company’’) is registered in the United Arab Emirates
as a Public Joint Stock Company pursuant to the U.A.E. Commercial Companies Law No. 8 of 1984
(as amended). The principal activities of the Company are to construct, own, assemble, install,
operate and maintain cooling and air conditioning systems. In addition, the Company’s activities
include the distribution and sale of chilled water for use in district cooling technologies.
The Company’s registered office is located at P.O. Box 32444, Dubai, United Arab Emirates.
2 ACCOUNTING POLICIES
The interim condensed consolidated financial statements of the Company and its subsidiaries are
prepared in accordance with International Accounting Standard (IAS) No 34, Interim Financial
Reporting. The accounting policies used in the preparation of the interim condensed consolidated
financial statements are consistent with those used in the preparation of the annual consolidated
financial statements for the year ended 31 December 2005.
The interim condensed financial statements do not contain all information and disclosures required
for full financial statements prepared in accordance with International Financial Reporting Standards.
In addition, results for the three months ended 31 March 2006 are not necessarily indicative of the
results that may be expected for the financial year ending 31 December 2006.
3 SEGMENTAL ANALYSIS
Services Chilled water Contracting Manufacturing Eliminations Total
AED ’000 AED ’000 AED’000 AED’000 AED’000 AED’000
Three months ended 31 March 2006:
Revenue ...................................................
External revenue ..................................... 14,708 37,260 15,400 40,161 — 107,529
Inter-segment sales.................................. 1,244 — — — (1,244) —
Total revenue........................................... 15,952 37,260 15,400 40,161 (1,244) 107,529
Result ......................................................
Segment result ......................................... 6,986 9,977 3,695 11,994 (979) 31,673
Finance costs .......................................... — — — — — (13,488)
Interest and investment income .............. — — — — — 6,108
Share of results of associates .................. — 245 — — — 245
Minority interests.................................... — — — — — (6,631)
Profit for the period attributable to equity
holders of the parent ............................ 17,907
Three months ended 31 March 2005:
Revenue ...................................................
External revenue ..................................... 7,950 29,162 19,956 21,483 — 78,551
Inter-segment sales.................................. 1,699 — — — (1,699) —
Total revenue........................................... 9,649 29,162 19,956 21,483 (1,699) 78,551
Result Segment result .............................. 3,723 11,063 8,473 6,445 (2,934) 26,770
Finance costs .......................................... — — — — — (7,072)
Interest income ....................................... — — — — — 977
Share of results of associates .................. — 68 — — — 68
Minority interests.................................... — — — — — (3,603)
Profit for the period attributable to equity
holders of the parent ............................ 17,140
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