Dubai– Mubasher: Dubai Financial Market Company (DFM) recorded net profits attributable to the owners valued at AED 89.57 million in the first quarter (Q1) of 2024.
The registered net profits were higher than AED 35.59 million in Q1-23, according to the interim financial results.
Basic and diluted earnings per share (EPS) increased to AED 0.011 as of 31 March 2024 from AED 0.004 a year earlier.
Total consolidated revenues hiked by 64% year-on-year (YoY) to AED 148.06 million in Q1-24 from AED 90.09 million.
Meanwhile, DFM’s trading value exceeded AED 25 billion in the first three months (3M) of 2024, up YoY from AED 19 billion.
Helal Saeed Al Marri, Chairman of DFM, said: "The impressive performance of the DFM General Index further reinforces the market's confidence in our strategic direction, as it advanced by 4.59% and the market capitalization increased 6% to AED 730 billion from its level at the end of 2023.”
Foreign investors had a market share of 47% of trading value and net purchases of AED 1.30 billion in Q1-24, while their ownership maintained 20% of the market cap.
The institutional investors’ share of trading value hit 65% with net purchases of AED 717 million.
During the three-month period that ended on 31 March 2024, DFM attracted 44,259 new investors, of which 85% were foreign investors.
Hamed Ali, CEO of DFM, commented: “With this positive momentum, DFM is well positioned to achieve its strategic objectives and further solidify its position as a global financial hub."
In 2023, DFM posted 124% higher net profits attributable to the owners at AED 329.40 million, compared to AED 147.11 million in 2022.
