Dubai:
Dubai Financial Market, the only listed regional bourse, said on Monday its net profit in the first quarter to March fell 52 per cent along with revenues.
Net profit for the first three months of the year fell to Dh48.9 million from Dh102.34 million, while revenues also fell 34 per cent to Dh99.1 million. The revenues comprised of Dh60.66 million of operating income and Dh38.44 million of investment returns.
The DFM attracted 1,586 new investors, lifting the total number of registered investors to 842,568. DFM’s trading value decreased 57.2 per cent during the first quarter of 2018 to Dh20.4 billion compared to Dh47.8 billion during the corresponding period of last year.
Essa Kazim, chairman of the DFM said: “Providing market participants with innovative and smart solutions is one of the main pillars of our strategy in line with the leadership’s vision on digital transformation. Accordingly, the DFM has launched the Dividend Distribution System (DDS) in a first step of its kind during first quarter of 2018.”
“During the first quarter of 2018, the DFM has implemented numerous development initiatives aimed at further enhancing its infrastructure and regulations in line with international best practices and as part of its strategy 2021 that focuses on diversifying DFM’s products and services,” Kazim added.
