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DFM posts net profit of $26m in the first nine months of 2019

In Q3 2019, net profits increased to $8.27m (AED30.4m), which is 45% higher compared to Q3 2018

DFM posts net profit of $26m in the first nine months of 2019
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DFM posts net profit of $26m in the first nine months of 2019

The Dubai Financial Market (DFM) has announced a net profit of $26m (AED95.5m) for the first nine months of 2019, ending 30 September, which is an 8% drop from net profits of $28.2m (AED103.7m) during the same period in 2018.

However, net profits in Q3 2019 increased to $8.27m (AED30.4m), which is 45% compared to Q3 2018.

DFM’s total revenue reached $65.7m (AED241.6m) between January and September 2019, which includes $36.5m (AED133.9m) of operating income and $29.3m (AED107.7m) of investment returns.

In Q3 2019, DFM’s revenue reached $21.2m (AED78.1m) up from $18.9m (AED69.5m) during the same period in 2018, while.

The company’s expenses reached $39.7m (AED146.1m) in the first nine months of 2019, out of which expenses in Q3 2019 amounted to $12.98m (AED47.7m).

Commenting on the results, chairman of the DFM, Essa Kazim, said: “The DFM’s performance has considerably improved during Q3 2019 with a 29.5% jump in trading value, which helped – to a large extent – to contain the slow start of H1 2019. The DFM General Index was up 10% by the end of September, while the Market Capitalisation advanced 6.5% to $100bn (AED367bn).”

Kazim added: “We are looking forward to seeing further momentum considering the DFM’s world-class infrastructure and lucrative opportunities supported by the national economy’s dynamism and good growth.”

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Construction Week - Issue 753
Nov 09, 2019