{"id":30270,"date":"2020-07-28T11:50:40","date_gmt":"2020-07-28T07:50:40","guid":{"rendered":"https:\/\/blog.dubaicityguide.com\/site\/?p=30270"},"modified":"2020-07-28T11:50:40","modified_gmt":"2020-07-28T07:50:40","slug":"dfm-company-posts-net-profit-of-aed-78-9-million-during-the-first-half-of-2020","status":"publish","type":"post","link":"https:\/\/blog.dubaicityguide.com\/site\/dfm-company-posts-net-profit-of-aed-78-9-million-during-the-first-half-of-2020\/","title":{"rendered":"DFM Company Posts Net Profit Of AED 78.9 Million During The First Half Of 2020"},"content":{"rendered":"
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Dubai Financial Market\u00a0(PJSC) today announced its financial results for the first half of the year ending 30 June 2020, registering a 21% increase in its net profit to AED 78.9 Million compared to AED 65.1 Million during the corresponding period of 2019. The net profit of the second quarter of 2020 reached AED 44.2 Million, a 20% increase compared to Q2- 2019\u2019s level of AED 37 Million.<\/p>\n

The Company recorded a total revenue of AED 181.1 Million in H1-2020 compared to AED 163.5 Million during H1- 2019. The revenue comprised of AED 115.3 Million of operating income and AED 65.8 Million of investment returns. The Company expenses reached AED 102.2 Million compared to AED 98.4 Million recorded during H1-2019. During the second quarter of 2020, the Company\u2019s revenue reached AED 92.9 Million compared to AED 85.6 Million in the second quarter of 2019, while expenses amounted at AED 48.7 Million compared to AED 48.6 Million during Q2-2019.<\/p>\n<\/div>\n

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Positive performance indicators<\/strong><\/p>\n<\/div>\n

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Commenting on the key developments and achievements of the first half, His Excellency Essa Kazim, Chairman of the\u00a0Dubai Financial Market Company\u00a0(PJSC) said: \u201cDuring the first six months of 2020, the DFM\u2019s trading value has exceeded AED 31 Billion, a 25% increase compared to the corresponding period of 2019. The second quarter performance clearly indicates the DFM\u2019s resiliency in containing international markets\u2019 volatility due to the repercussions of unprecedented circumstances triggered by the COVID-19 pandemic with the general index advancing 16%, restoring a considerable percentage of its previous decline. Additionally, the DFM has attracted 1718 new investors during the first half, lifting total number of DFM\u2019s investor base to 845,770 investors. The market also maintained its attractiveness to foreign investors with their market share reached to 49% of trading activity during the first half and to 18.2% of the market capitalization at the end of June 2020. Undoubtedly, the UAE\u2019s pro-active approach dealing with the pandemic\u2019s repercussions has been pivotal in achieving these encouraging performance indicators with various economic sectors benefiting from the numerous stimulus packages rapidly launched by the UAE leadership.\u201d<\/p>\n

Leading initiatives<\/strong><\/p>\n

\u201cMoreover, the global developments associated with the pandemic didn\u2019t deter us from carry on with DFM\u2019s strategic development initiatives. We have launched Dubai Clear and Dubai CSD end of April 2020 as independent companies for post-trade services. Dubai Clear is the region\u2019s first independent company central counterparty (CCP) for equity clearing and Dubai CSD is the UAE\u2019s first independent central securities depository (CSD) company. This launch crowns DFM\u2019s extensive efforts throughout the past two years to enhance market structure and post trade services in line with international best practices, which further strengthen its leadership in driving capital markets development in the UAE and the region. It also represents a significant milestone in strengthening UAE markets\u2019 infrastructure and competitiveness as well as DFM\u2019s commitment to reinforcing its infrastructure and achieving highest levels of business excellence,\u201d H.E. Essa Kazim added.<\/p>\n

It is noteworthy that the DFM has accomplished the largest technology upgrade through its entire history by migrating to the Nasdaq Financial Framework (NFF) in March. This cutting-edge ecosystem developed by Nasdaq, the leading market technology provider globally, provides the DFM with world class infrastructure for trading, surveillance, clearing and market data dissemination.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Dubai Financial Market\u00a0(PJSC) today announced its financial results for the first half of the year ending 30 June 2020, registering a 21% increase in its net profit to AED 78.9 Million compared to AED 65.1 Million during the corresponding period of 2019. The net profit of the second quarter of 2020 reached AED 44.2 Million, […]<\/p>\n","protected":false},"author":1,"featured_media":30271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-30270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/30270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/comments?post=30270"}],"version-history":[{"count":1,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/30270\/revisions"}],"predecessor-version":[{"id":30272,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/30270\/revisions\/30272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media\/30271"}],"wp:attachment":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media?parent=30270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/categories?post=30270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/tags?post=30270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}