Dubai: The Dubai Financial Market (DFM) said on Sunday it posted a 43 per cent fall in net profit in the first quarter to March as revenues dropped.
Net profit for the March quarter fell to Dh28.1 million from Dh48.9 million in the year-before period. Revenues decreased 21 per cent to be at Dh77.9 million.
The total value of DFM’s trading decreased 41.4 per cent during the first quarter of 2019 to Dh11.9 Billion compared to Dh20.4 Billion during the corresponding period of last year.
“We are looking forward to see further momentum during the coming period considering DFM’s world-class infrastructure and lucrative opportunities supported by the national economy’s dynamism and good growth rates,” Eisa Kazim, Chairman of the Dubai Financial Market Company said in a statement.
The DFM attracted 654 new investors during the first quarter, including 64 institutions, lifting total number of DFM’s investor base to 843,778 investors.