Dubai Financial Market Company (PJSC) on Wednesday announced its financial results for the first nine months of the year ending 30 September 2021, registering a net profit of AED 38.1 million compared to AED 120.1 million in the same period of 2020.
The Company’s total revenue reached AED 183.1 million in this timeframe compared to AED 271 million during the corresponding period of the previous year. The revenue is comprised of AED 117.9 million of operating income and AED 65.2 million of investment returns and other income.
The Company’s expenses decreased 4 percent to AED 145 million by the end of September 2021 compared to AED 150.9 million in the same period of 2020.
“The Market Capitalization of DFM-listed securities has increased 15 percent to AED 392.2 billion and the General Index advanced by 14.2 percent in spite of the 23.7 percent decline in trading value to AED 38.7 billion compared to its level during the corresponding period of 2020,” Essa Kazim, Chairman of the PJSC said adding that the foreign investors maintained their strong presence with 47.5 percent market share of trading value.
“Similarly, institutional investors accounted for 44 percent of trading activity with a net purchase of AED 429 million. This clearly indicates UAE’s and international investors’ deep confidence in DFM’s prospects and diversified opportunities,” Kazim said.
The PJSC, according to him, has attracted numerous retail and institutional investors alike adding up 3799 new investors to the market, including 467 institutions, and bringing total number of its investor base to 849,572 investors from 208 nationalities at the end of September 2021.
“Foreign investors accounted for 66% of the new investors (2502 investors), representing 81% of the new institutions that have joined the market this year (380 institutions),” Kazim added.
The PJSC has waived the minimum trading commission from September 1st as part of its numerous initiatives aimed at stimulating and streamlining trading and investment activities as well as promoting retail investors’ participation in the market.
During September also, the PJSC decided to extend its trading hours from four hours to five hours daily, which came into effect on October 3, 2021, in an endeavor to further strengthen its leading position as a main gateway for investment.