Dubai: Dubai Financial Market Company on Wednesday reported a net profit of Dh34.7 million, a 24 per cent increase compared to Dnh28.1 million during the corresponding period of 2019.
The company’s total revenue increased by 13 per cent to Dh88.2 million in Q1 2020 compared to Dh77.9 million during Q1 2019. The revenues comprised of Dh49.1 million of operating income and Dh39.1 million of investment returns.
Operating expenses reached to Dh53.5 million during Q1-2020 compared to Dh49.8 million during the same period of 2019.
“In spite of the volatility of international financial markets, including DFM, due to the repercussions of unprecedented circumstances triggered by the COVID-19 outbreak, the DFM’s trading value has relatively improved during the first quarter of 2020 with an increase of 19% to AED 14.2 billion compared to Dh11.9 billion during the corresponding quarter of 2019,” said Essa Kazim, Chairman of the Dubai Financial Market Company.
The DFM has attracted 1018 new investors during the first quarter, lifting total number of DFM’s investor base to 845,137 investors. Moreover, the market maintained its attractiveness to foreign investors with their market share reached to approximately 51 per cent of trading activity during the first quarter and to 18 per cent of the market capitalization at the end of March 2020.
“We are looking forward to continue this positive movement during the coming period as a result of the numerous stimulus packages launched by the UAE leadership to support the economy during this exceptional period,” said Kazim.