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DFM Company posts net profit of Dh261m in 2015

Dubai - Total revenues reached to Dh451 million in 2015 compared to Dh936.7 million in 2014. The total revenue comprised of Dh393.7 million of operational revenues and Dh57.3 million of investment revenues and others.

 Dubai Financial Market on Thursday announced its results for the financial year ending December 31, 2015 as the company posted a net profit of Dh261 million for the year 2015, compared to Dh759.3 million in 2014, a 66 per cent decline.
Total revenues reached to Dh451 million in 2015 compared to Dh936.7 million in 2014. The total revenue comprised of Dh393.7 million of operational revenues and Dh57.3 million of investment revenues and others.
During its meeting on Thursday, the Board of Directors reviewed and approved the annual results, which will be presented for ratification at the annual general meeting of the company due to be held on March 9, 2016 in coordination with The Securities and Commodities Authority (SCA). The board also proposed a cash dividend of five per cent of the capital equivalent to Dh400 million.
Essa Kazim, Chairman of the company said, "The DFM Company's revenue and profit have been affected by the 60 per cent decline in the trading value during 2015 to Dh151.4 billion compared to Dh381.5 billion in 2014 as the trading commission represents the main revenue stream for the company. This decline was prompted by some immediate circumstances unrelated to the sound fundamentals of the national economy, especially the decrease in oil prices as well as concerns about the slowdown in China and its impact on global economy, which affected various international markets. Regardless of this, DFM has maintained its attractiveness to foreign investments with the UAE's classification as Emerging Market by leading institutions such as (MSCI) and (S&P Dow Jones)."
"In a clear indication on their growing confidence in the market, foreign investors' activity has strengthened in 2015 and their share of trading increased to 48.6 per cent compared to 43.8 per cent in 2014. Foreign investors except for Arabs and GCC nationals were net buyers of Dh900 million whilst institutional investors were net buyers of Dh1.5 billion," he added.
"DFM has organised two international investor roadshows in 2015; the first was held in London in April and the other in New York in October. Both conferences achieved great success and attracted a large number of Emerging Market funds with $ 4 trillion of assets under management, which reflects the growing interest from these institutions towards DFM's diversified and lucrative opportunities that enables them to participate in the significant success story of Dubai."
"During 2015, we have focused on implementing the 'Smart Borse' strategy through series of services and innovative solutions in line with the vision and directives of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. DFM has launched an integrated electronic platform of investor services, enabling them to access 15 services through smart phone applications and the website. DFM also launched its newly designed website with various new web pages and sections that fulfill the requirements of market participants. Furthermore, the updated version of the DFM Market Watch offers comprehensive information on the market activities and allows users great flexibility to redesign the page according to their personal preferences.
"DFM has also introduced its new smart phone application as well as the Apple Watch version. These developments further fulfils DFM's objectives to make its data and services available for investors wherever they are and whenever they like." he added."