Dubai Financial Market Company Posts Net Profit of AED 65.1 Million During the First Half of 2019

Dubai Financial Market Company Posts Net Profit of AED 65.1 Million During the First Half of 2019

Dubai Financial Market (PJSC) today announced its financial results for the first half of the year ending 30 June 2019, registering a net profit of AED 65.1Million, compared to AED 82.8 Million during the corresponding period of 2018, a 21% decrease. The net profit of the second quarter of 2019 reached AED 37Million, a 9% increase compared to Q2- 2018 level of AED 33.9 Million.
 
The Company recorded a total revenue of AED 163.5Million in H1-2019 compared to AED 182.4 Million during H1- 2018. The revenue comprised of AED 88.8 Million of operating income and AED 74.7 Million of investment returns. The Company expenses reached AED 98.4 Million compared to AED 99.6 Million recorded during H1-2018. During the second quarter of 2019, the Company’s revenue reached AED 85.6 Million compared to AED 83.3 Million in the second quarter of 2018, whilst expenses amounted at AED 48.6Million in the same period compared to AED 49.4 Million during Q2- 2018.
 
It is noteworthy that during the first six months of 2019, the DFM trading value decreased to AED 25 Billion, a 31.5% decrease compared to the corresponding period of 2018. Trading commissions represent the main revenue stream of the DFM Company.
 
His Excellency Essa Kazim, Chairman of the Dubai Financial Market Company (PJSC) said: “The decline in DFM’s trading value echoes the prevailing trend of international exchanges during the first half of the year, as 74% of the global exchanges registered a decline in their traded value during the first five months of this year compared to the same period of 2018. Meanwhile, the DFM General Index has advanced 5% and we believe that this reasonable growth is a good indication considering the down trend that prevailed in most of exchanges globally, as 47 exchanges, representing two thirds of the members of the World Federation of Exchanges (WFE) have witnessed a decline in their indices. We are looking forward to see this good indication gaining 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.”

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