DFM Company posts Dh28.1M profit for Q1
The first quarter of 2019 witnessed the implementation of new initiatives to further diversify DFM’s products and services
Essa Kazim, chairman of Dubai Financial Market Company
dubai — Dubai Financial Market Company on Sunday posted 43 per cent decline in first-quarter net profits to Dh28.1 million from Dh48.9 million in the same month quarter last year.
In a statement, the only listed bourse in the Arab world said its total revenue has decreased by 21 per cent to D77.9 million in January-March 2019 compared to Dh99.1 million in the same quarter of 2018. The revenues are comprised of Dh39.5 million of operating income and Dh38.4 million of investment returns. Meanwhile, operating expenses reached at Dh49.8 million during first quarter of 2019 compared to Dh50.2 million in the same period of 2018.
It is pertinent to note that the total value of DFM’s trading has decreased 41.4 per cent during the first quarter of 2019 to Dh11.9 billion compared to Dh20.4 billion during the corresponding period of last year.
Essa Kazim, chairman of the Dubai Financial Market Company, said the DFM’s performance has relatively improved compared to the end of 2018 levels. He said the Dubai Financial Market General Index rose 4.15 per cent and the market capitalisation has increased by two per cent, gaining Dh7 billion to Dh350 billion at the end of March 2019. Additionally, he said foreign investors have registered net purchases of Dh680 million, while institutional investors registered net purchases of Dh500 million. “The DFM has attracted 654 new investors during the first quarter, including 64 institutions, lifting total number of DFM’s investor base to 843,778 investors. The DFM General Index has extended its gains to 11 per cent year-todate and we are looking forward to see further momentum during the coming period considering DFM’s world-class infrastructure and lucrative opportunities supported by the national economy’s dynamism and good growth rates,” Kazim said.