Empower, the leading district cooling services provider in the region, recorded net profit of Dhs162 million for fiscal year ended December 2011, representing an impressive 25 per cent increase over 2010.
The company’s total revenues reached Dhs670 million, an increase of 40 per cent over previous year. This was announced at a press conference held on Tuesday in Dubai.
Ahmed Bin Shafar, CEO of Empower, said: “Empower’s operations grew remarkably in 2011 due to higher demand. We also expanded our footprint and enhanced the infrastructure and network in real estate projects to cater to the needs of our rapidly increasing client base. Moreover, the company worked on training its personnel across all levels, which has definitely contributed to these positive results.”
Talking about the funding for Empower’s expanding operations, Bin Shafar said the company’s funding options included, internal cash generated from operations, medium to long term funding from banks and financial institutions and shareholders equity contributions. He added that Empower adopted a clear strategy for 2011, an extension of the company’s strategy in previous years.