Dubai – Mubasher: Emirates Central Cooling Systems Corporation (Empower) registered a net profit of AED 402.95 million during the first half (H1) of 2023, down from AED 431.71 million in H1-22.
The basic and diluted earnings per share (EPS) went down to AED 0.40 in January-June 2023 from AED 0.043 in the same period a year earlier, according to the income statement.
Empower generated revenues worth AED 1.22 billion in H1-23, an annual increase of 6.10% from AED 1.15 billion.
Financial Results for Q2-23
In the second quarter (Q2) of 2023, the corporation posted net profits worth AED 235.59 million, compared with AED 250.42 million in Q2-22.
The basic and diluted EPS declined to AED 0.023 during April-June 2023, compared with AED 0.025 in the corresponding duration last year.
Revenues rose by 6.20% to AED 730.55 million in Q2-23 from AED 687.98 million in Q2-22.
Outlook
Regarding the future outlook, the CEO of Empower, Ahmad bin Shafar, said: “We aim to maintain upward, thriving, and sustainable operational and financial performance to bring significant benefits to our stakeholders and contribute to Dubai’s economy, its residents, and various economic sectors."
In Q1-23, the net profits attributable to the listed entity’s shareholders decreased to AED 167.26 million from AED 181.22 million in Q1-22.
