Dubai Financial Market announces 109 per cent rise in nine-month net profit

Dubai Financial Market announces 109 per cent rise in nine-month net profit

In the first nine months of 2023, the DFM attracted 35,357 new investors

Dubai Financial Market, DFM, trading floor, IPO, Dubai financial Market, DFM, UAE, Tecom, Tecom Group on the DFM after the Dewa and Salik road toll system, Mena, IPO

Published: Mon 30 Oct 2023, 10:01 PM

Dubai Financial Market (DFM) on Monday announced that its net profit increased by 109 per cent to Dh186.2 million for the period ended 30 September 2023, compared to Dh89 million in the corresponding period in 2022.

With a notable increase in the number of trades, overall trade value, and an influx of new investors, DFM’s robust performance reinforces Dubai as the pivotal hub in the global financial landscape.

DFM’s total consolidated revenue increased by 48 per cent to Dh351.8 million during the first nine months of 2023, compared to Dh237.8 million during the corresponding period of 2022. The revenue comprises Dh214.2 million in operating income and Dh137.6 million in investment returns and other income. Meanwhile, total expenses reached Dh165.6 million compared to Dh148.8 million in the same period ending September 2022.

The total number of trades increased to 1.43 million trades in the first nine months of 2023, representing a notable 37 per cent increase in trading activity