DFM Company announce Jan-Sep net profit increase of 133%

Dubai Financial Market (DFM) Company PJSC today announced its financial results for the first nine months of the year ended 30th September 2022, registering an increase of 133 percent in net profit to AED89 million compared to AED38.1 million in the same period of 2021.

The Company’s total revenue reached AED237.8 million during the first nine months of this year compared to AED183.1 million during the corresponding period of the previous year. The revenue comprises AED173.3 million of operating income and AED64.5 million of investment returns and other income. The Company’s expenses increased by 2.6 percent to AED148.8 million by the end of September 2022 compared to AED145 million in the same period of 2021, despite the significant increase in operating revenue, operating expenses only increased by 0.4 percent as a result of operational efficiencies and cost optimisation initiatives.

Helal Al Marri, Chairman of the DFM Company, said,

"We have posted a strong set of results in the third quarter. Increasing investor interest and activity is testament to the dynamism and growth of Dubai’s capital markets. This is illustrated by the DFM being one of the most active listing venues globally right now."

It is noteworthy that the total Market Capitalisation of listed securities increased 40 percent to AED575.5 billion compared to AED411 billion at the end of 2021, as a result of both organic and non-organic growth driven by the wave of successful IPOs as well as the improvement in listed securities’ performance. The DFM General Index advanced 4.5 percent this year.

During the first nine months of 2022, the total trade value jumped 79.5 percent to AED69.5 billion compared to AED38.7 billion during the same period of 2021. The DFM also maintained its attractiveness to foreign investors, who accounted for 47.3 percent of trading value at the end of September with net purchases of AED3.2 billion, a 146 percent increase compared to the corresponding period. Their ownership reached to 19.1 percent of the total Market Capitalisation. Similarly, institutional investors accounted for the 46.7 percent of the total trade value with a net purchase of AED1.3 billion.

Regarding investors’ appetite, Helal Al Marri said,

"As DFM’s successful digital transformation strategy comes into fruition, the number of new investors who joined the market during the first nine months has increased 41 times to 155,060 investors compared to 3799 investors during the corresponding period in 2021. Investors have rushed into the market to participate in the continuous IPOs from leading enterprises that reinforced the depth and diversity of our market.”

The DFM investor base has climbed 9 percent to 1,004,486 to surpass the one million level for the first time. Foreign investors accounted for 71.8 percent of the new investors, meanwhile 647 new institutional investors have also joined the market.

News Source: Emirates News Agency