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Dubai Financial Market profit jumps 27%

Dubai Financial Market profit jumps 27%

The general index increased by 6.5 per cent during the quarter

Dubai financial Market Company announced a 27 per cent increase in first quarter net profit yesterday despite a turbulent start to the year for regional exchanges.

The company’s net profit increased from Dhs 67.7m in Q1 2015 to Dhs 86m in the first quarter of this year.

Revenue jumped 11 per cent, from Dhs 114.5 during the period in 2015 to Dhs 127m this year. This comprised Dhs 105.6m of operating income and Dhs 21.4m of investment returns.

DFM’s trading value also increased 7.56 per cent year-on-year to Dhs 40.58bn, compared to Dhs 37.7bn in Q1 2015.

“DFM Company’s revenue and profit have relatively increased during the first quarter of 2016, which represents a positive development taking into consideration the fluctuations of regional and international markets due to the repercussions of lower oil prices,” said DFM chairman Essa Kazim.

“From our point of view, the market has handled such unfavourable circumstances with a high level of resiliency and successfully managed to maintain a good level of activity supported by investors’ confidence in the lucrative investment opportunities DFM provides.”

Kazim added that the general index increased by 6.5 per cent during the quarter, making it one of the best performing in the world.

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