Dubai: The Dubai Financial Market (DFM) said on Wednesday its net profit for 2018 fell by nearly half, amid a dip in revenues.
The bourse posted net profit of Dh125.5 million in 2018, compared to Dh232.9 million, a 46 per cent decline.
Total revenues stood at Dh324.7 million in 2018, compared to Dh421.6 million in 2017.
Expenses reached Dh199.2 million during 2018 compared to Dh188.7 million in 2017.
In the fourth quarter to December 2018, net profit for the period fell 63 per cent to Dh21.8 million compared to Dh59.5 million in the same quarter last year.
Total revenue during the fourth quarter of 2018 decreased 33 per cent to Dh72.8 million compared to Dh108.30 million during the corresponding period of 2017.
Eisa Kazim, chairman of DFM stressed on the need to further diversify the listings on the bourse.
“Over the past years, the DFM endeavours to educate private and family businesses on market developments and the favourable regulations in order to enhance their presence on the market with the ultimate goal to achieve a better diversification of Dubai’s dynamic and growing economic sectors,” Kazim said.
“These listings further strengthen the attractive position of DFM as the most favoured listing venue for leading local and regional companies. We believe that the market is well-positioned to attract more listings in the future,” he added.