Dubai
Dubai Financial Market said on Monday its net profit for the three months to June fell 19 per cent along with revenues.
The only listed bourse in the Middle East said the net profit fell to Dh43.3 million in the June quarter compared to Dh53.5 million in the same quarter last year.
The company’s revenues also fell to Dh90 million in June quarter from Dh100 million in the second quarter of 2016.
In the first half to June, the DFM recorded a marginal rise in net profit.
The bourse recorded a net profit of Dh145.6 million in the first six months to June, compared to Dh139.6 million during the corresponding period of 2016, a 4 per cent rise.
The company recorded a total revenue of Dh239.3 million in the first half of 2017 compared to Dh227 million during the first half of 2016. The revenue comprised of Dh186 million of operating income and Dh53.3 Million of investment returns.
“The DFM spares no effort in order to further strengthen its leading position among regional markets in terms of embracing international best practices as well as providing new services that empowers market participants’ efficient and active trading on our market,” Essa Kazim, Chairman of Dubai Financial Market said in a statement.
During the first half of the year, DFM has implemented numerous initiatives as part of the strategic plan 2021 including; the launch of Exchange-Traded Funds (ETFs) Platform, the first of its kind in regional capital markets. Kasim said the DFM also plans to overhaul its technological infrastructure in cooperation with Nasdaq to bolster the technological infrastructure and further improve trading and post-trade practices and pave the way for various enhancement, including the establishment of a central counterparty (CCP) clearing.
During the first six months of 2017, the DFM trading value reached to Dh70 Billion, a 1 per cent increase compared to the corresponding period of 2016.
