DFM company H1 net profit surges 140 per cent to AED 40.6 million.
The DFM Company recorded total revenue of AED 118.7 million in H1 2012 compared to AED 113.3 million during H1- 2011. The revenue comprised of AED 94.3 million of operating income and AED 24.4 million of investment returns. Expenses reached AED 78.1 million compared to AED 96.4 million recorded during H1 2011. During Q2 2012, revenue reached AED 49.6 million compared to AED 64.6 million, whilst expenses amounted to AED 39.4 million in the same period compared to AED 49.9 million during Q2 2011.
DFM trading value has significantly improved by 45.5 per cent to AED 32.3 billion during the first six months of this year compared to AED 22.2 billion in the corresponding half last year. In fact, the trading value in H1 2012 surpassed that of full year 2011. It increased by 4.7 per cent to AED 11.8 billion in Q2 2012 compared to AED 11.3 billion in the same period of 2011.
Abdul Jalil Yousef Darwish, Chairman of Dubai Financial Market (PJSC) said, "As the trading commissions represent the main revenue stream, the significant improvement of DFM trading activity since the beginning of the year has left its positive mark on the company's revenue and profit. The trading value of the first half of the year surpassing its levels witnessed throughout the full year of 2011, is undoubtedly a strong indication of the investors' reignited interest in the diversified opportunities offered at DFM and the exchange's various competitive advantages and leading position amongst regional markets. As a result, DFM is evidently leading as the best performing regional market with its general index increasing 14 per cent year to date...
"We believe that the trading activity over the last few months represents an encouraging indication of restoring the common market activity levels in the future. We are deeply confident that DFM is fully geared up for a new era of sustainable growth owed to a series of strategic initiatives aimed to further improving its infrastructure according to international best practices. The exchange has successfully implemented 18 initiatives over the past two years as part of the new strategy adopted by the Board of Directors at the beginning of its tenure."
Essa Abdul Fattah Kazim, Managing Director and CEO of Dubai Financial Market said, "DFM's efforts are centred around further stimulating the role of financial markets in supporting the economy through productive discussions with various participants including public and private companies, regulators, financial consultancies and investment banks. Our objective is to attract new companies from unrepresented sectors and diversify investment opportunities and asset classes through the introduction of new financial products. The DFM also encourages market participants to further embrace international best practices leading to augmenting Dubai's leading position as the international financial hub in the region...
"Additionally, we have pursued our efforts to support small and medium enterprises (SMEs) to go public in the future. DFM and NASDAQ Dubai have joined hands with the Dubai SME to educate this important category on how to utilize the capital markets."
2012 CPI Financial. All rights reserved.
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