Dubai Financial Market Reports 24% Surge in Net Profit for 2024

Dubai Financial Market Company (DFM) has announced its consolidated financial results for the fiscal year ending December 31, 2024, reporting a 24% rise in net profit (pre-tax) to AED 409.3 million, compared to AED 329.6 million in 2023.

The growth was driven by robust trading volumes, strong capital inflows, and increased investor activity.

DFM’s total revenue rose 15.5% to AED 632.3 million, comprising AED 353.1 million in operating income and AED 279.2 million from investment returns. Market capitalization surged 32% to AED 907 billion, with the DFM General Index climbing 27.1%—its highest level since 2014—marking the largest annual gain in three years. Dubai maintained its position as the GCC’s best-performing market for the second consecutive year.

A key highlight of 2024 was the success of three IPOs, including talabat’s listing, the largest global tech IPO of the year. Public offerings, including Parkin and Spinneys, raised AED 10.48 billion, significantly surpassing 2023’s AED 1.97 billion. Retail investor participation increased, contributing 35% of total trading activity, while institutional investor share rose to 65% from 58% in 2023.

DFM welcomed 138,262 new investors in 2024, a 120.5% increase from the previous year, with foreign investors accounting for 85% of the new registrations. Foreign investors also contributed 50% of the total trading value, up from 47% in 2023.

DFM’s Board of Directors has proposed a cash dividend of AED 256 million, representing 3.2% of capital and 97% of total retained earnings available for distribution. Chairman Helal Al Marri emphasized that these strong results reinforce Dubai’s standing as a premier financial hub, aligning with its leadership’s vision for global investment attraction.

News Source: Emirates News Agency