Dubai Financial Market posts net profit of Dhs63.4m for H1 2022

The Dubai Financial Market (DFM) has announced its consolidated financial results for the first half of the year ending June 30. It recorded a 63 per cent increase in its net profit to Dhs63.4m compared to Dhs38.8m during the corresponding period of 2021.

The net profit of the second quarter of 2022 increased by 134 per cent to Dhs35.9m compared to Q2 2021’s level of Dhs15.3m.

The company’s total consolidated revenue reached Dhs163.8m in H1 2022 compared to Dhs136.6m during H1 2021. The revenue comprised of Dhs121.4m of operating income and Dhs42.4m of investment income and others.

The company’s expenses amounted to Dhs100.4m compared to Dhs97.8m recorded during H1 2021. During the second quarter of 2022, the Company’s revenue reached Dhs85.2m compared to Dhs63.2m in the second quarter of 2021, while expenses amounted at Dhs49.3m compared to Dhs47.9m during Q2 2021.

Helal Al Marri, chairman of DFM, said, “The DFM has witnessed a positive performance driven by the increasing interest from various market participants and the deep confidence in its prospects in light of the accelerating steps to implement Dubai’s financial markets development strategy. During the first half, the DFM welcomed the listing of DEWA, the largest initial public offering in the UAE financial markets’ history.”

Al Marri added that the total trading value increased by 75 per cent during the first half of 2022 to Dhs49.4bn from Dhs28.2bn during the same period of the year 2021, while the total market capitalisation of listed securities increased 28.2 per cent to Dhs527bn compared to end of 2021 level of Dhs411bn.

The DFM maintained its attractiveness to international investors, who accounted for 47 per cent of its trading value during the first half with net purchases of Dhs2.6bn and their ownership reached to 19.8 per cent of the total market capitalisation by the end of June 2022.

DFM has attracted 70,432 new investors during the first half of this year compared to 1,842 investors, up 38 times compared to its level at the end of the corresponding period of last year, bringing total number of investors to 921,550 investors from 212 countries at the end of June 2021. International investors accounted for 72 per cent of the new investors. Additionally, the DFM has on-boarded 426 new institutional investors during the first half, including 303 foreign institutions.