Monday, Nov 04, 2013

Dubai: Dubai Financial Market, the region’s only listed bourse, reported on Monday its 2013 third quarter net profit to be Dh82.8 million, compared to a net loss of Dh1.7 million during the same period last year.

During the first nine months of the year, its net profit is up by 361 per cent to Dh179.3 million amid soaring trading value, which has been a combined result of higher volumes and capital appreciation.

The Dubai stock market has been, for the most part of the year, among the five best performing bourses globally. Year to date, the DFM General Index is up 79.45 per cent.

In the past quarter, the company’s revenue reached Dh122.2 million compared to Dh36.8 million in the third quarter of 2012, while expenses amounted to Dh39.4 million in the same period compared to Dh38.5 million during the corresponding period of last year.

The trading value soared 502.2 per cent to Dh49.02 billion in the third quarter of 2013 compared to Dh8.1 billion in the same period of 2012.

“DFM has succeeded in maintaining its vigorous performance since the beginning of the year with trading activity, the main revenue stream for the company, gaining momentum during the third quarter of 2013 as trading value exceeded the full year of 2012 level of Dh48.7 billion,” Eisa Abdul Fattah Kazim, chairman of Dubai Financial Market (PJSC), said in a statement.

“Moreover, the DFM General Index soared 24 per cent during the third quarter, registering its best quarterly performance since the last quarter of 2007 to end the first nine months of this year up 70.3 per cent, making DFM the best-performing exchange globally since the beginning of 2013.”

He added that market performance this year is a testimony to local and international investors’ recognition of various developments implemented over the past years and the integrity of the market infrastructure.

“The year 2013 has brought us a variety of positive developments promising a new beginning for DFM, including the reignited attention of investors and MSCI’s decision to classify the UAE as emerging market,” Kazim said.

The result was announced after the markets closed on Monday. DFM’s closing price was Dh2.32.

Staff Report

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