DFM reports Dh314m net profit in first quarter

Dubai: The Dubai Financial Market Company (DFM Company) on Sunday reported a net profit of Dh314 million from operational activities and investments for the first quarter of 2008, an increase of 231 per cent compared to Dh95 million from operational activities and investments for the same period in 2007.

The company recorded total revenues of Dh351 million during the first quarter of 2008, including Dh273 million from operational activities and Dh78 million from investments, up 158 per cent compared to Dh136 million in total revenues for the same period in 2007.

Eisa Kazim, chairman of Dubai Financial Market, said, "We are very pleased with our financial results in the first quarter of 2008. Our continued profit and growth is due in no small part to the confidence expressed in our institution by investors and the success of the Dubai Financial Market. Investors are drawn to a market and company that is dynamic, and that gives them unlimited possibilities

Unique initiative

"The DFM Company is the result of a unique initiative for the region, giving investors the ability to purchase a piece of a financial market itself, as well as allowing investors to directly participate in the economic future of Dubai," said Kazim.

We fully intend for the success of this company to continue by implementing groundbreaking programmes that give investors abundant opportunities for strong returns," he added.

The DFM Company is the result of a unique initiative for the region, giving investors the ability to purchase a piece of a financial market itself."