Dubai: Dubai Financial Market Company said on Monday its net profit for the first half to June fell 57 per cent, as revenues also fell.
The exchange recorded net profit of Dh200 million in the six months to June, compared to Dh467.6 million in the same period last year.
Revenues fell Dh292.6 million during the January-June period from Dh552.1 million in the same period last year, the exchange said in a statement.
The revenue comprised of Dh259.8 million of operating income and Dh32.8 million of investment returns.
“We are looking forward to see further activity through the remaining period of this year supported by the strong economic indicators, the comprehensive market infrastructure as well as its well-diversified investment opportunities,” said Eisa Kazim, Chairman of Dubai Financial Market, in a statement.
DFM said its trading activity relatively improved during the second quarter of the year overcoming the sharp decline that prevailed during the first quarter, which saw trading value down 65 per cent to Dh38 billion compared to Dh110 billion during the corresponding quarter of the past year.
DFM trading value decreased 56 per cent to Dh103 billion during the first six months of this year compared to Dh237 billion in the corresponding half of last year.
The DFM successfully maintained its attractiveness for issuers looking to list after the listing of Damac Properties, the most recent addition, along with the resumption of trading on Amlak Finance.
“We are looking forward to further diversify our listed companies building on the significant listing activity during the second half of last year, which saw the market receiving four new listings from unrepresented sectors in the market including tourism, health care, education and retail. This development further boosts the success of DFM’s strategy to achieve the best possible representation of Dubai’s economy,” Kazim said.
The DFM organised its international investor roadshow in London last April, and was participated by international institutions with $3 trillion assets under management globally.
Having 58 international institutions, including 26 new institutions, seeking to connect with DFM Company immediately after the event, which applies to other participating companies as well, provides the strongest indication of the greater importance of DFM amongst international investors, the DFM said.
“We will carry on with our efforts to connect with international investors through roadshows in global financial centres and consider organising similar events in the Far East as part of our quest to attract further liquidity and keep international funds well-informed of DFM opportunities,” Kazim added.
