KHALEEJ TIMES, Tuesday, May 4, 2021 | Ramadan 22, 1442
DFM Company posts net profit of Dh23.4 million in Q1
Emirates:
Dubai Financial Market Company announced its consolidated financial
results for the first quarter of the year ending March 31, 2021, reporting a
net profit of Dh23.4 Million, a 33 per cent decrease compared to Dh34.7
Million during the corresponding period of 2020.
Essa Kazim, chairman, 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. Accordingly, the
DFM’s trading value has increased 8.3 per cent to Dh15.4 billion during the
first quarter of 2021 compared to Dh14.2 billion during the corresponding
quarter of 2020. The DFM has attracted 848 new investors during the first
quarter, including 134 institutions, lifting total number of DFM’s investor base
to 847,277 investors representing 207 nationalities. Moreover, the DFM
maintained its attractiveness to foreign investors with their market share
reached to 46 per cent of trading value during the first quarter and to 18.3 per
cent of the market capitalisation at the end of March 2021. Foreign investors’
net purchases during the first quarter reached to Dh160.5 million.”
The company’s total consolidated revenue has decreased by 17 per cent to Dh73.4
million in Q1-2021 compared to Dh88.2 million during Q1-2020. The revenues are
comprised of Dh45.6 million of operating income and Dh27.8 million of
investments returns and others. Meanwhile, operating expenses reached to Dh50
million compared to Dh53.5 million.
“The DFM accelerated its development plans during the first quarter of 2021,
with the implementation of initiatives to diversify products and asset classes
as well as to provide its large and diversified investor base with new
investment opportunities. This included the listing of Al Mal Capital’s REIT, as
the first REIT on the market as well as the listing of Chimera S&P UAE UCITS ETF,
the second of its kind fund from the company,” Kazim said.
“We are steadfastly strengthening DFM’s position as a main gateway to
diversified range of investment opportunities. Currently, the DFM is amongst the
leading regional markets in terms of financial product diversification providing
equities, equity futures, ETFs, REITs, etc. We are focusing on expanding the
range of traded products in order to provide investors with new alternatives
investments, which enables them to flexibly manage their portfolios,” Kazim
added
|