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DFM Reports Strong Performance with 109% Increase in Net Profit

Dubai Financial Market has reported remarkable financial achievements, including a 109% growth in net profit for the fiscal year ending September 30, 2023.

Dubai Financial Market (DFM) has announced impressive financial results, reporting a 109% increase in net profit for September 30, 2023. 

This substantial growth saw net profit rise to Dh186.2 million, compared to Dh89 million during the same period in 2022.

Boosting Dubai’s Global Financial Position:

DFM’s robust performance is a testament to Dubai’s pivotal role in the global financial landscape. 

The market experienced a trade surge, total trade value, and the influx of new investors, reinforcing Dubai’s status as a thriving financial hub.

DFM’s total consolidated revenue soared by 48% during the first nine months of 2023, reaching Dh351.8 million, up from Dh237.8 million in the corresponding period of 2022. 

This revenue includes Dh214.2 million in operating income and Dh137.6 million in investment returns and other income. 

Meanwhile, total expenses for the same period amounted to Dh165.6 million, compared to Dh148.8 million in 2022.

Increased Trading Activity and Value:

Trading activity on DFM saw significant growth, with the total number of trades increasing to 1.43 million in the first nine months of 2023, marking a 37% growth compared to the previous year. 

Total trading value also rose to Dh78 billion, representing a 13% increase year-on-year. The DFM General Index increased by 25% during this period, closing at 4,136.58.

Attracting New Investors:

DFM welcomed 35,357 new investors to its platform in the first nine months of 2023, with 72% coming from foreign markets, representing over 200 nationalities. 

The influx of new investors, including institutional investors accounting for 56% of the trading value, highlights DFM’s global appeal as a thriving financial ecosystem.

Market Capitalization Growth:

DFM’s market capitalization grew, increasing from Dh576 billion in 9M 2022 to Dh697 billion in 9M 2023. 

The sector distribution by market capitalization includes financials at 41%, utilities at 23%, real estate at 17%, industrials at 14%, communication services at 3%, and others such as consumer staples making up the remainder.

Commitment to Innovation and Expansion:

DFM’s Chairman, Helal Saeed Al Marri, emphasized their commitment to diversification and forward-thinking initiatives that position DFM as the marketplace of choice for investors and issuers.

Hamed Ali, CEO of DFM and Nasdaq Dubai, highlighted the resilience and strength of Dubai’s capital market and their dedication to driving growth and innovation. 

The IPO Accelerator Programme and ongoing digital transformation efforts are central to their mission.

DFM plans to further expand its reach with upcoming roadshows, including one in New York, as it fosters global partnerships and enhances its international presence.

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