Dubai Empower’s Q2 net profit slips

Dubai Empower’s Q2 net profit slips

Dubai's Emirates Central Cooling Systems Corporation, also known as Empower, has reported a Q2 2023 net profit attributable to equity holders of 235.5 million dirhams ($64 million), 6% lower year-on-year (YoY).

Revenue for the three months ended June 30 rose to AED730.5 million, from AED687.9 million a year ago, the district cooling company said in a filing to the Dubai Financial Market.

For H1 2023, it made a net profit of AED 403 million and revenue of AED 1.22 billion.

The company, which started trading on the DFM late last year, said no interim dividend was proposed for the period ended June 30, 2023.

(Writing by Brinda Darasha; editing by Seban Scaria)

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