DFM reports Dhs112.2m half-year profit, up 77%

DFM reports Dhs112.2m half-year profit, up 77%

Image courtesy: WAM

Dubai Financial Market (DFM) said its half-year profit surged by 77 per cent from a year earlier, driven by Al Ansari Financial Services’ (Al Ansari Exchange) initial public offering (IPO) and the increase in international investors following the exchange’s London roadshow.

The bourse net profit rose by 77 per cent to reach Dhs112.2m in the six months to June 30. DFM’s revenues soared 31 per cent year-on-year(YoY) to Dhs215.2m in the first half of 2023 compared to Dhs163.8 during the same period a year ago.

“Revenue includes Dhs128.6m in operating income and Dhs86.6m in investment returns and other income,” the Dubai bourse said in a statement. The company’s total expenses reached Dhs103m during the period under review, compared to Dhs100.4m in H1 2022.

This just in 📈#DFM 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.

🔗 To read more about it, click https://t.co/pH7J0nc3ug pic.twitter.com/eBSl7Yqo2H

— Dubai Financial Market (@DFMalerts) July 28, 2023

DFM posted Dhs126.3m in quarterly revenues, compared to Dhs85.2m during the same period last year, while expenses reached Dhs49.7m for the period from Dhs49.3m in Q2 2022. The DFM General