DFM reports AED120 mn net profit for 9 months

Trading value reaches AED51 bn for nine months

BBN Report

DUBAI/October 26-2020: Dubai Financial Market (DFM) Company, registered a net profit of AED120.1 million for the nine months ending September 30, 2020, a 26 per cent increase from AED95.5 million the company reported for the same period of 2019.

Net profit for the third quarter (Q3) of the year 2020 increased 35 per cent to AED41.1million, compared with AED30.4 million in the corresponding period in 2019.

Total revenue reached AED271 million during the nine months in the current year compared with AED241.6 million during the corresponding period of 2019.

The revenue comprises AED175.2 million of operating income and AED95.8 million of investment returns and other income.

DFM Company expenses reached AED150.9 million by the end of September 2020, compared with AED146.1 million in the same period a year earlier.

During the third quarter alone, the revenue reached AED89.8 million compared with AED78.1 million for the same period in the previous year, while the expenses amounted to AED48.7 million in the same period compared with AED 47.7 million for the same period last year.

Trading value reaches AED51 bn

Essa Kazim, Chairman of the Dubai Financial Market Company said that DFM’s trading value increased by 28.3 per cent to approximately AED51 billion during the nine months under review compared with the same period last year.

The market also maintained its attractiveness to foreign investors with their market share reaching 51 per cent of trading activity and to 18 per cent of the market capitalisation at the end of September 2020.

International investors were also net buyers to the tune of AED190 million at the end of the third quarter. “Undoubtedly, these encouraging performance indicators underline DFM’s business continuity arrangements,” Kazim added.

 

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