Dubai DFMs 9-month net profit up 26% to $32.69mln

Dubai Financial Market Company on Monday said its nine-month net profit grew to Dh120.1 million, a 26 per cent increase from Dh95.5 million in the same period of 2019.

Total revenue reached to Dh271 million during the nine months compared to Dh241.6 million during the corresponding period of 2019. The revenue is comprised of Dh175.2 million of operating income and Dh95.8 million of investment returns and other income. Company expenses reached Dh150.9 million by the end of September 2020 compared to Dh146.1 million in the same period of 2019.

Net profit of the third quarter of the year 2020 increased 35 per cent to Dh41.1million, compared to Dh30.4 million in the corresponding period of 2019.

During the third quarter, Company’s revenue reached Dh89.8 million compared to Dh78.1 million in the third quarter of 2019, while expenses amounted to Dh48.7 million in the same period compared to Dh47.7 million.

Essa Kazim, chairman of the Dubai Financial Market Company, said: “The DFM’s trading value has increased by 28.3 per cent to approximately Dh51 billion, compared to the corresponding period of 2019. During the past three quarters, the trading value maintained a steady growth registering 19 per cent, 30 per cent and 34.5 per cent respectively compared to the corresponding periods of the previous year.”

Additionally, the DFM attracted 3,194 new investors during the nine months. It also maintained its attractiveness to foreign investors with their market share reached to 51 per cent of trading activity and to 18 per cent of the market capitalization at the end of September 2020. International investors were also net buyers of Dh190 million at the end of the third quarter.