Dubai Financial Market Company has announced a 33 percent drop in net profit for the first three months of the year.
The bourse reported a net profit of AED23.4 million compared to AED34.7 million during the corresponding period of 2020.
The company’s total consolidated revenue also decreased by 17 percent to AED73.4 million in Q1 while operating expenses fell to AED50 million.
Essa Kazim (pictured below), chairman of the Dubai Financial Market Company, said: “During the first quarter of 2021, the DFM performance indicators have maintained their 2020 positive trajectory in spite of the volatility of international financial markets due to the repercussions of the Covid-19 pandemic.”
The DFM’s trading value increased 8.3 percent to AED15.4 billion during the first quarter of 2021 and attracted 848 new investors during the quarter, including 134 institutions, lifting the total investor base to 847,277 investors, he added.
The market share of foreign investors reached 46 percent of trading value during the quarter and to 18.3 percent of the market capitalisation at the end of March, he also revealed.
Foreign investors’ net purchases during Q1 reached AED160.5 million.
Kazim added: “We are steadfastly strengthening DFM’s position as a main gateway to diversified range of investment opportunities. Currently, the DFM is among the leading regional markets in terms of financial product diversification providing equities, equity futures, ETFs, REITs. We are focusing on expanding the range of traded products in order to provide investors with new alternatives investments.”
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