Empower Reports 9% Fall in Earnings of Q2 2024

Dubai’s Emirates Central Cooling Systems Corporation (Empower) published its financial results for the second quarter of 2024, showing quite a mixed performance.

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Despite the decline in net profit, Empower delivered strong revenue growth. Revenue for the three-month period ended June reached AED 814 million, up 11.4% YoY.

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The net profit of the company for H1 2024 also trended down, slipping 6 percent year on year to AED 387 million.

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Those financial results from Empower come amid a dynamic market environment that is in increasing demand for district cooling services

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The decline in net profit indicates there could be operational challenges facing Empower. These may include rising operational costs, increasing competition.

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The company’s CEO commented on the growth trajectory of the business and its commitment to creating value for all stakeholders in a statement.

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