The profits of the UAE “Empower” decreased by 6.6% in the first half of 2023, to 402 million dirhams

2023-08-04 08:52:51

The financial statements of the Emirates Corporation for Central Cooling Systems “Empower” showed a decline in the profit attributable to the company’s shareholders by 6.6% to 402 million dirhams, at the end of the first half, compared to profits amounting to 431 million dirhams achieved during the same period last year, while the revenues for the period increased by regarding 6%. Registered 1.224 billion dirhams.

The decrease in profits comes under pressure from the increase in financing costs in the first half by regarding 450%, up from 19 million dirhams during the first half of 2022, and reached 106 million dirhams in the first half of this year.

In the second quarter of the year, net profit declined by 5.9%, recording 235.5 million dirhams, while revenues increased by 6%, recording 730 million dirhams.

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