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Dubai Financial Market adds 2,627 investors in nine months

dubai - DFM records net profit of Dh175 milion for nine months of 2016

The Dubai Financial Market (DFM) has attracted 2,627 new investors during the first nine months of 2016, including 418 institutions, raising the total number of DFM-registered investors to 839,000.

Foreign investors' ownership in DFM also increased to 22.2 per cent during the period, said Essa Kazim, chairman of DFM.

He said that institutional investors have increased their participation in the market from 25.3 per cent of the trading value during the first nine months of 2015 to 28.3 per cent during the same period of 2016, with a net buying of Dh1.5 billion.

He added that the DFM General Index has been the best-performing among GCC stock markets and came fourth among leading indices globally, advancing 10.3 per cent during the first nine months of the year.

The company recorded a net profit of Dh175million during the first nine months of 2016, a 29 per cent decrease from Dh245.5 million in the same period of 2015.

Net profit in the third quarter of 2016 reached Dh35.4 million, compared to Dh45.4 million in the third quarter of 2015.

Total revenue decreased by 19 per cent to Dh308.1 million during the period, compared to Dh381.8 million during the corresponding period of 2015. The revenue comprised Dh248.6 million of income and Dh59.5 million of investment returns. Company expenses reached Dh138.5 million by the end of September 2016 compared to Dh136.3 million in the same period of 2015.

During the third quarter of 2016, revenue reached Dh81.1 million compared to Dh89.2 million in the third quarter of 2015, while expenses amounted to Dh45.7 million in the same period compared to Dh43.8 million.
- business@khaleejtimes.com