(MENAFN- Khaleej Times) The company's total consolidated revenue has increased by 7 per cent to Dh78.6 million in Q1/2022 compared to Dh73.4 million during Q1 2021. by A Staff Reporter
Published: Fri 29 Apr 2022, 11:42 PM
Last updated: Fri 29 Apr 2022, 11:45 PM
Dubai is committed to developing a buoyant financial market reinforcing the Emirate's position as a global financial hub, said Helal Al Marri, chairman, of Dubai Financial Market Company, on Friday, as the company issued its first-quarter results.
The consolidated financial results for the first quarter of the year ending March 31, 2022, posted a 17 per cent increase with a net profit of Dh27.5 million, compared to Dh23.4 million during the corresponding period of 2021.
“The DFM trading activities gained further momentum during the first quarter of 2022, extending the positive performance of the previous period following the announcement of an ambitious strategy to develop financial markets in Dubai and to reinforce the Emirate's position as a global financial hub in line with the leadership's vision,” said Al Marri.
The company's total consolidated revenue has increased by 7 per cent to Dh78.6 million in Q1/2022 compared to Dh73.4 million during Q1 2021. The revenues are comprised of Dh55.9 million of operating income and Dh22.7 million of investment returns and others. Meanwhile, operating expenses reached Dh51.1 million compared to Dh50 million.
“Accordingly, the DFM's trading value has increased 48 per cent to Dh22.8 billion during the first quarter of 2022 compared to Dh15.4 billion during the corresponding quarter of 2021. The DFM General Index advanced 10.3 per cent and the market capitalisation increased 6.4 per cent to Dh437.4 billion from its level at the end of 2021. Foreign investors maintained their strong presence through a market share of 45.8 per cent of trading value during the first quarter and net purchases of Dh2.1 billion, while their ownership reached to 23.2 per cent of the market capitalisation at the end of March 2022. Institutional investors' share of trading value reached to 51.6 per cent with net purchases of Dh651 Million,” Al Marri added.
“The DFM has attracted 51,404 new investors during the first quarter of this year, 73.4 per cent of them are foreign investors, bringing the total number of its investor base to 903,077 investors representing 209 nationalities. These encouraging figures resonate with market participants' confidence and strong appetite towards DFM's lucrative trading and IPO opportunities.”
During the first quarter of 2022, the DFM accelerated its strategic development plans aiming at strengthening its position as the main gateway to investment and one of the leading regional markets in terms of diversifying products including; equities, equity futures, bonds and sukuk, ETFs, REITs, etc.
The DFM will expand the range of opportunities and attract leading companies from various economic sectors to IPO and list in addition to introducing new financial products.
“Our digital on-boarding drive witnessed remarkable achievements with the expansion of Investor Numbers (NIN) issuance and IPO subscription through online channels of both DFM and its business partners including; brokerage firms, financial and banking institutions, etc,” Al Marri concluded. —
MENAFN29042022000049011007ID1104137012
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.