News Column

DFM Company net profit surges 384 per cent to AED 467.6 million during H1 2014

July 20, 2014

Dubai Financial Market Company (PJSC) today announced its financial results for the first half of the year ending June 30th 2014, recording a net profit of AED 467.6 million, compared to AED 96.5 million during the corresponding period of 2013, a 384 per cent increase. The net profit of the second quarter 2014 reached 252.5 million, a 263 per cent increase compared to Q2 2013 level of AED 69.5 million.

The Company recorded revenue of AED 552.1 million in H1 2014 compared to AED 178.4 million during H1 2013. The revenue comprised of AED 524.5 million of operating income and AED 27.6 million of investment returns. The Company expenses reached AED 84.5 million compared to AED 81.9 million recorded during H1-2013. During the second quarter of 2014, the Company's revenue reached AED 296.5 million compared to AED 112.7 million in the second quarter of 2013, whilst expenses amounted to AED 44 million in the same period compared to AED 43.2 million during Q2 2013.

It is noteworthy that the DFM trading value jumped 303 per cent to AED 237.06 billion during the first six months of this year compared to AED 58.8 billion in the corresponding half of last year. Meanwhile, the trading value increased 234 per cent to AED 126.9 billion in the second quarter of 2013 compared to AED 38 billion in the same period of 2013. Trading commissions represent the main revenue stream of the DFM Company.

His Excellency Essa Kazim, Chairman of Dubai Financial Market (PJSC) said: "DFM has sustained its momentum and remarkable performance during the first six months of the year 2014, which has been positively reflected on the company results. The DFM General Index continued its growth during the first half increasing to almost 60 per cent continuing from DFM's phenomenal performance witnessed in 2013, when it leapt 108 per cent, leading the best performing exchanges globally. The index has ended the first half up 17 per cent and swiftly bounced back to 44 per cent year to date. The daily average of trading value has increased 303 per cent to AED 1.9 billion. Moreover, DFM attracted 18,927 new investors during the first half compared to 15,720 investors during the same period of 2013, a growth of 20.4 per cent which signals investors' confidence in DFM's diversified and lucrative investment opportunities, the sophisticated services offered to investors and issuers, as well as its ability to sustain growth. Foreign investors accounted for 42.6 per cent of total trading value during the first half with a net buy of AED 2.5 billion."

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Source: CPI Financial

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