Dubai: Dubai Financial Market said on Monday its net profit for the second quarter to June fell 22 per cent even as revenues fell 7 per cent.
Net profit stood at Dh33.9 million in the second quarter to June, compared to Dh43.3 million in the same period last year.
During the second quarter of 2018, the company’s revenue reached Dh83.3 million, compared to Dh90 million in the second quarter of 2017, the bourse said in an emailed statement.
Net profit for the first half to June was at Dh82.8 million, compared to Dh145.6 million during the corresponding period of 2017, registering a 43 per cent decrease.
The DFM trading value decreased to Dh36.5 billion, a 47.6 per cent decrease compared to the corresponding period of 2017.
Initiatives:
The DFM launched the Allocation Account mechanism, creating a unique and transparent solution that caters for the requirements of fund managers, enabling brokers to implement the orders of clients through this account and allocates the quantities to each investors account based on the average price of the transactions.
“During the first half 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,” Eisa Kazim, chairman of the Dubai Financial Market Company (PJSC) said in a statement.
DFM also organised an International Investor Roadshow in New York in early May with representatives of international 16 funds managing approximately $3 trillions of assets.
“The event provided listed companies with an efficient platform to highlight their growth strategies and business developments amid international investors’ growing interest and willingness to further strengthen presence on Dubai’s securities market,” he added.
