Dubai Financial Market (DFM) announced today its financial results for the first half of the year ending 30 June 2019, which showed a net profit of AED 65.1 million, down 21% compared to AED 82.8 million for the same period in 2018. Net profit for the second quarter of 2009 was AED 37 million compared to AED 33.9 million for the same period in 2018, an increase of 9%. The market attracted 904 new investors during the first half of 2019.
The company recorded total revenues of AED 163.5 million during the first half of 2019, compared to AED 182.4 million in the same period last year. Revenues were AED 88.8 million and AED 74.7 million respectively.
In the first half of the year, expenses amounted to AED 98.4 million compared to AED 99.6 million in the first six months of 2018. Revenues for the second quarter of this year amounted to AED 85.6 million compared to AED 83.3 million in the second quarter of 2018. The same period for the same period of the previous year of AED 48.6 million compared to AED 49.4 million in the second quarter of 2018.
The total trading value of the market during the first half of 2019 decreased by 31.5% compared to the levels of the same period of 2018 to reach 25 billion dirhams, noting that trading commissions represent the main source of revenue of the company.
Chairman of the Board of Directors of Dubai Financial Market (DFM), Issa Kazim, said that the decline in the value of DFM transactions was in line with the general trend in the international financial markets. The value of trading decreased by 74% during the first half compared to the same period of 2018 .
"In contrast, the general index of the market rose by 5% during the first half of 2019, contrary to the downward trend in most of the world markets, as indicators fell 47 global stock, representing about two thirds of the stock exchanges members of the Federation of World Exchanges.
"We look forward to continuing this positive performance, especially as the national economy maintains its vitality and good growth rates, as well as the integration of market structure in accordance with global best practices and attractive investment opportunities," Kazem said. .
Kazem said the market maintained its attractiveness to foreign investment during the first half of this year. Non-UAE foreign investors recorded a net purchase of AED 870 million, rising to around AED 1 billion excluding Arab and Gulf investors. The market attracted 904 new investors during the first half of 2019, including 90 investment institutions, bringing the total number of registered investors to 844,228.