DFM reports 77% upsurge in net profit during the first half of 2023 to AED 112.2 mln

DFM reports 77% upsurge in net profit during the first half of 2023 to AED 112.2 mln

The trading value for the first half of 2023 reached AED 46 billion.

The DFM General Index went up 14% in the first half of the year and market capitalization increased by 12% to AED 652 billion.

Institutional investors accounted for 57% of trading value in the first half of the year.

Dubai: Dubai Financial Market (DFM) today announced its financial results for the period ending June 30, 2023, reporting a net profit of AED 112.2 million, an increase of 77% from the same period last year.

DFM’s revenue also saw significant growth, increasing 31% year-on-year to AED 215.2 million in the first half of 2023, from AED 163.8 million last year. Revenue includes AED 128.6 million in operating income and AED 86.6 million in investment returns and other income. Meanwhile, total expenses reached AED 103 million compared to AED 100.4 million in the same period in H1 2022.

During the second quarter of 2023, the Company’s revenue reached AED 126.3 million compared to AED 85.2 million during Q2 of 2022, while expenses amounted AED 49.7 million compared to AED 49.3 million during Q2 of 2022.

The DFM General Index posted impressive growth of 14%, closing at 3,972 points while market capitalization increased by 12% to