Dubai Financial Market Company announces a 40% falll in net profit for the first nine months of 2018
Dubai Financial Market (DFM) Company has announced a net profit of AED103.7 million for the first nine months of 2018, a 40 percent decrease compared to the same period of 2017.
The bourse said in a statement that net profit for the third quarter of 2018 decreased 25 percent to AED20.9 million.
Total revenue reached AED251.9 million during the nine month period, down from AED313.3 million during the year earlier period.
The total value of trading on DFM decreased by 44.8 percent to AED47.7 billion during the first nine months of this year while the daily average of trading value decreased 45.2 percent to AED253.8 million. During the third quarter, trading value decreased 32.7 percent to AED11.2 billion.
Company expenses reached AED148.2 million by the end of September compared to AED140 million in the same period of 2017.
Essa Kazim, chairman of the Dubai Financial Market Company, said: "During the first nine months of 2018, the DFM has accelerated its efforts to further enhance its infrastructure and regulatory framework as well as diversify product offering and services in line with international best practices and as part of its strategy 2021.
"We also pursued our efforts to further enhance trading activity mechanisms and services."For all the latest market news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.