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Dubai Financial Market (PJSC) today announced its financial results for the first half of the year ending 30 June 2019, registering a net profit of AED 65.1Million, compared to AED 82.8 Million during the corresponding period of 2018, a 21% decrease. The net profit of the second quarter of 2019 reached AED 37Million, a 9% increase compared to Q2- 2018 level of AED 33.9 Million.
The Company recorded a total revenue of AED 163.5Million in H1-2019 compared to AED 182.4 Million during H1- 2018. The revenue comprised of AED 88.8 Million of operating income and AED 74.7 Million of investment returns. The Company expenses reached AED 98.4 Million compared to AED 99.6 Million recorded during H1-2018. During the second quarter of 2019, the Company’s revenue reached AED 85.6 Million compared to AED 83.3 Million in the second quarter of 2018, whilst expenses amounted at AED 48.6Million in the same period compared to AED 49.4 Million during Q2- 2018.
It is noteworthy that during the first six months of 2019, the DFM trading value decreased to AED 25 Billion, a 31.5% decrease compared to the corresponding period of 2018. Trading commissions represent the main revenue stream of the DFM Company.
His Excellency Essa Kazim, Chairman of the Dubai Financial Market Company (PJSC) said: “The decline in DFM’s trading value echoes the prevailing trend of international exchanges during the first half of the year, as 74% of the global exchanges registered a decline in their traded value during the first five months of this year compared to the same period of 2018. Meanwhile, the DFM General Index has advanced 5% and we believe that this reasonable growth is a good indication considering the down trend that prevailed in most of exchanges globally, as 47 exchanges, representing two thirds of the members of the World Federation of Exchanges (WFE) have witnessed a decline in their indices. We are looking forward to see this good indication gaining 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.”
“During the first half of this year, the DFM has maintained its attractiveness to foreign investors as they have registered net purchases of AED 870 Million and it reached to nearly AED 1 billion when excluding GCC and Arab investors. The DFM has attracted 904 new investors during the first half, including 90 institutions, lifting total number of DFM’s investor base to 844,028 investors,” H.E. Essa Kazim added.
Investors Roadshow in New York achieves significant success
It is noteworthy that the DFM plays an active role in attracting foreign investments and strengthening listed companies’ links with international investors. Within this context the DFM International Investors Roadshow in New York 2019 has witnessed significant participation from international investment institutions. The event enabled 9 listed companies to hold 81 One-on-One meetings with senior representatives of 35 international institutions managing approximately US$ 3.2 Trillion of assets. The roadshow attracted 21 new institutions that took part for the first time, representing 60% of the total number of institutions.
Strong presence of foreign and institutional investments
The DFM maintains a strong presence of foreign and institutional investments with more than 11 thousand institutions registered on the market, including 90 institutions during the first half of 2019. Institutions’ ownership reached 83.6% of the Market Capitalization at the end of the first half of 2019 with 52.3% share of trading. Similarly, foreign investors are maintaining their active presence with 50% of trading during the first half of 2019 and they own 17.5% of the Market Capitalization.
Awards
During the first half of 2019, the DFM won two new awards, the Dubai Quality Award (DQA), for the financial sector category as well as the Five Star “Recognized for Excellence” Award earlier of the year from the European Foundation for Quality Management (EFQM), in recognition of its commitment to highest levels of quality in customer service. The recognition from the first application crowns DFM’s momentous excellence journey throughout its entire history, noting that the evaluation of DFM has clearly indicated that it maintains an excellent business environment for its operations, procedures and services provided to market participants.
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