STOCK Dubai Financial Market DFM
Dubai Financial Market Company (PJSC) posted a net profit of Dh137.9 million in 2020, up 14 per cent compared to Dh120.6 million in 2019. Image Credit: Photo: Antonin Kélian Kallouche/Gulf News

Dubai: Dubai Financial Market Company (PJSC)  posted a net profit of Dh137.9 million in 2020, up 14 per cent compared to Dh120.6 million in 2019.

Total revenues increased 7 per cent to Dh337.2 million compared to Dh315.8 million. The total revenue comprised of Dh219 million of operational revenues and Dh118.2 million of investment revenues and others. Company expenses reached Dh199.3 million during 2020 compared to Dh195.2 million in 2019.

The net profit of the fourth quarter of 2020 reached to Dh17.8 million compared to Dh25.1 million in the last quarter of 2019, while total revenue of the Company decreased to Dh66.2 million compared to Dh74.2 million.

The total value of DFM’s trading has increased 24 per cent in the year 2020 to Dh66 billion and 10 per cent in the fourth quarter to Dh15 billion.

The DFM's Board has approved the issuance of the “Free Zone Companies Listing Regulations” as well as the issuance of the “Stabilization Mechanism Regime”.

“Despite of the pandemic, the 2020 witnessed a significant number of achievements for the DFM, as the global crisis didn’t halt the implementation of strategic development plans that reinforced DFM’s business excellence, competitiveness and sustainable growth. The high level of resilience as well as the positive indicators of 2020 demonstrated by DFM underline the deep confidence of various market participants including; investors, issuers, brokers, etc.," said Excellency Essa Kazim, Chairman of the Company.

The DFM’s total traded value increased 24 per cent to  Dh66 billion and 2,350 new international investors joined the market, lifting total number of new investors in 2020 to 4,027 investors. International investors maintained their strong presence on the market, accounting for 50 per cent of traded value with net purchases of Dh661 million and a shareholding of 19 per cent of total market capitalization by the end of 2020.

The DFM General Index has regained a significant proportion of its previous decline, recovering 49.8 per cent compared to its lowest level of the year registered last April at the height of the global markets’ fluctuations, hence limiting its decline to 9.9 per cent by the end of 2020.