The net profit of the Dubai Financial Market Company decreased by 4% to reach 120.6 million dirhams in 2019, compared to 125.5 million dirhams in 2018.
According to Al Bayan newspaper, total revenue was 315.8 million dirhams in 2019, compared to 324.7 million dirhams in 2018.
Income was distributed by 177 million dirhams from operating operations and 138.8 million dirhams from investments and others.
The company's expenses during 2019 reached 195.2 million dirhams, compared to 199.2 million dirhams during 2018.
Regarding the last quarter of 2019, the company's revenues increased by 2% to 74.2 million dirhams, compared to 72.8 million dirhams in the same period of 2018, and net profit increased by 15% to 25.1 million dirhams, compared to 21.8 million in the fourth quarter 2018.
Despite the decline in the value of market trading by 11% during the whole of 2019 to 53 billion dirhams, the trading activity showed a remarkable improvement in the second half of the year compared to the first half, as the value of third-quarter trading increased 29.4% to 14.5 billion dirhams, and the value of quarter trading increased The last 13% to 13.5 billion.
During its meeting yesterday, the company’s board of directors discussed the financial statements for 2019 and approved them in preparation for submitting them to the annual ordinary general assembly that will be held after the approval of the Securities and Commodities Authority. The board also decided to raise a proposal to distribute cash dividends to shareholders of 200 million dirhams, or 2.5% of the capital.
Issa Kazim, Chairman of the Board of Directors, said: In 2019, a large part of the structural development plan was implemented for the purpose of establishing independent depository and clearing companies, which contributes to advancing institutional excellence in the market to new heights and dedicates its leadership in developing the financial markets in the country, as the year witnessed The same is the launching of pioneering sustainability initiatives, as well as the implementation of a number of Strategic Plan 2021 projects aimed at supporting market competitiveness, diversifying its products and services and preparing it in the best possible way to achieve sustainable growth. The year 2019 witnessed the launch of the new post-trading organizational structure.
Kazem added: The market is accelerating the pace towards launching its first new platform of its kind globally for trading of free zone companies, as part of Dubai 10x initiatives, in cooperation with a leading group of strategic partners including the Dubai Airport Freezone Authority And the Securities and Commodities Authority and the Supreme Committee for Legislation in the Emirate of Dubai, and the market has also made all preparations to launch the real estate investment trading platform.
foreign investment
The market maintained its attractiveness to foreign investment, as foreign investors' transactions recorded a net purchase of 2.824 billion dirhams, and they accounted for 49.6% of the market's trading, and their ownership percentage reached 17.35% of the total market value. The ownership percentage of investment institutions out of the total market value reached 83.6% at the end of 2019, and its share of circulation during 2019 reached 54.2%. The market attracted 3,067 new investors, bringing the total number of registered investors to 844,455 investors.
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