Empower profits surge 17pc
Dubai, February 27, 2013
Empower, a leading district cooling services provider in the region, recorded a net profit of Dh190 million for fiscal year ended December 2012, representing a 17 per cent increase over 2011.
The company's total revenues reached Dh701 million, an increase of 5 per cent over previous year.
Ahmed Bin Shafar, CEO of Empower, said: “Empower achieved an annual increase of 8 per cent in its cooling capacity, with over 400,000 Refrigeration Tons (RT) in 2012. The company boosted its production and commissioned new plants as well as launched new customer service and call centres in 2012. It also reinforced its commitment towards the environment by maximising the usage of treated water for district cooling, instead of normal water.”
Bin Shafar pointed out that the company increased its workforce by 9 per cent in 2012. Bin Shafar added: “The district cooling industry achieved significant growth in the UAE and GCC in 2012, and GCC governments are now more determined to adopt it, thus reducing their dependence on conventional cooling systems.”
In 2012, Empower settled loans amounting to Dh235 million as per the agreed schedules which demonstrate the robustness and sustainability of Empower’s business model and effectiveness of its financial strategy. – TradeArabia News Service