Dubai Financial Market Company today announced its consolidated results for the financial year ended 31st December 2021, posting a net profit of AED103.8 million compared to AED137.9 million in 2020.
Total revenues reached AED294.6 million compared to AED337.2 million. The total revenue comprised AED213 million operating revenues and AED81.6 million investment revenues and others.
The Company has successfully reduced its 2021 expenses by 4 percent, equivalent to AED8.5 million, to AED190.8 million compared to AED199.3 million in 2020, clearly indicating the viability of its cost efficiency policies.
As for the fourth quarter of 2021, the net profit increased by 269 percent to AED65.7 million compared to AED17.8 million in the corresponding period of 2020, while the company's total revenue increased by 68 percent AED111.5 million compared to AED66.2 million.
During its meeting on Monday, the Board of Directors reviewed and approved the annual results ahead of submission for ratification during the Annual General Meeting of the Company held based on the approval of the Securities and Commodities Authority (SCA). The Board also recommended distributing a 3 percent cash dividend to the shareholders equivalent to AED240 million.
Commenting on the key developments and achievements of 2021, Helal Al Marri, Chairman of the Company, said,
"The year 2021 ushered in a 'new chapter' in DFM's momentous journey. We deeply believe that DFM's prospects and ability to achieve sustainable growth remain promising owing to the leadership's vision and the numerous initiatives announced during the past few months by the Higher Committee for Development of Financial Markets.
"Our confidence stems from DFM's world-class infrastructure and regulations and its demonstrated business excellence. These factors jointly position DFM to endure its dynamic role and sustain growth and its active contribution in efforts aimed at strengthening Dubai's status as a capital markets hub globally."
He added that the DFM General Index witnessed an increase of 28.2 percent, the highest since 2013. Meanwhile, trading value increased 10.2 percent to AED72.3 billion compared to its level during 2020. The Market Capitalisation of listed securities has increased 20.5 percent to AED411 billion. The DFM ended the year with a strong note as trading value jumped 126 percent during the fourth quarter to AED33.6, equivalent to 46.5 percent of the full-year trading value.
In 2021, foreign investors maintained their strong presence with a 45.8 percent market share of DFM's trading value. They were also net buyers of AED1.9 billion, and their ownership of the market capitalisation reached 22.5 percent at the end of the year. Similarly, institutional investors accounted for 45.8 percent of trading activity with a net purchase of AED656 million.
The DFM has attracted 7,342 new investors, including 677 institutions, bringing its investor base at the end of 2021 to 852,212 investors from 209 nationalities. Foreign investors accounted for 63 percent of the new investors (4,626).
News Source: Emirates News Agency