Dubai Financial Market on Thursday announced that net profit has more than halved during the first half of 2021 compared to the year-earlier period on the back of reduced revenues.
The bourse reported a net profit of AED38.8 million compared to AED78.9 million in H1 2020.
Net profit of the second quarter of 2021 reached AED15.3 million, down from AED44.2 million in Q2 2020.
The company’s total consolidated revenue reached AED136.6 million in H1, down from AED181.1 million during H1 2020, DFM said in a statement.
Expenses totalled AED97.8 million, down from AED102.2 million, it added.
Essa Kazim (pictured below), chairman of the Dubai Financial Market Company said: “The DFM performance indicators have upheld their 2020 positive trajectory to a great extent, resounding the sound economic performance of Dubai and the UAE. Within this context, the DFM has maintained its attractiveness to retail and institutional investors alike.”
He said 1,842 new investors joined the market in the first six months of 2021, including 315 institutions, bringing total number of its investor base to 847,939 investors from 207 countries. Foreign investors accounted for 69 percent of the new investors, he added.
Market capitalisation of listed securities saw a 14 percent increase to AED388 billion while the General Index advanced 13 percent in spite of a 8.4 percent decline in total trading value to AED28.5 billion, Kazim said.
“Foreign investors continued their noticeable presence with a market share of 48.2 percent of trading activity during the first half, equivalent to AED13.7 billion and an ownership of 18.5 percent of the market capitalisation at the end of June 2021. These indicators underline investors’ deep confidence on the market,” he added.