Dubai Financial Market Company posts Dhs103.8m net profit for 2021, dipping 24.7% y-o-y
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Dubai Financial Market Company posts Dhs103.8m net profit for 2021, dipping 24.7% y-o-y

Dubai Financial Market Company posts Dhs103.8m net profit for 2021, dipping 24.7% y-o-y

Total revenues in 2021 reached Dhs294.6m

Dubai Financial Market

Dubai Financial Market Company has posted a net profit of Dhs103.8m for the financial year ending December 31, 2021, compared to Dhs137.9m in 2020.

Total revenues reached Dhs294.6m, comprising Dhs213m in operating revenues and Dhs81.6m in investment revenues and others. The company reduced its 2021 expenses by 4 per cent to Dhs190.8m compared to Dhs199.3m in 2020, a statement said.

Its net profit increased by 269 per cent to Dhs65.7m in Q4 2021, compared to Dhs17.8m in the corresponding period of 2020, while the company’s total revenue in the fourth quarter of 2021 increased by 68 per cent to reach Dhs111.5m compared to Dhs66.2m.

The board of directors recommended distributing a 3 per cent cash dividend to the shareholders equivalent to Dhs240m, the statement added.

Helal Al Marri, chairman of the company, said: ” 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.

He added that the DFM General Index witnessed an increase of 28.2 per cent, the highest since 2013. Meanwhile, trading value increased 10.2 per cent to Dhs72.3bn compared to its level during 2020. The market capitalisation of listed securities also increased 20.5 per cent to Dhs411bn.

In 2021, foreign investors made up 45.8 per cent market share of DFM’s trading value. Institutional investors accounted for 45.8 per cent of trading activity with a net purchase of Dhs656m.

The DFM welcomed 7,342 new investors, including 677 institutions, bringing its investor base at the end of 2021 to 852,212. Foreign investors, however, accounted for 63 per cent of the new investors.

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