Emirates Central Cooling Corporation (Empower), listed on the Dubai Financial Market, reported a 5 percent year-on-year decline in its profits at the end of the first half of this year.
The company stated in a disclosure to the stock exchange that its profits decreased to 384.5 million dirhams by the end of the first half of 2024, compared to profits of 402.8 million dirhams it achieved during the same period in 2023.
The company indicated that net financing costs increased by 29 percent to reach AED 96.2 million in the first half of 2024, compared to AED 74.5 million during the first half of 2023.
Empower's profits decreased by 2 percent at the end of the first quarter of this year to AED 163.4 million, compared to profits of AED 167.3 million achieved during the same period in 2023.
