Dubai - Mubasher: Dubai Financial Market Company (DFM Company) on Monday released its financial results for the first nine months of 2017, which showed a 1% year-on-year decrease.
The DFM Company’s net profits fell to AED 173.3 million in the first three quarters of 2017 from AED 175 million in the year-ago period, according to an official statement.
In the period from January to September 2017, the company’s total revenues were unchanged at AED 313.3 million compared to the prior year period.
The DFM Company’s revenues incorporated AED 236.9 million in operating income and AED 76.4 million in investment returns, according to the statement.
Meanwhile, the DFM Company’s expenses grew to AED 140 million in the first nine months of 2017 versus AED 138.5 million in the first three quarters of 2016, the company reported.
The total DFM’s trading value saw a 5% decrease in the nine-month period ended 30 September to AED 86.5 billion against AED 91 billion in the comparative period of 2016.
Similarly, average daily trading value declined by 5% in the first three quarters of 2017 to hit AED 463 million in comparison with AED 488 million during the year-ago period.
As for the third quarter results, the DFM Company registered a 22% year-on-year decrease in net profits to AED 27.7 million.
In the period from July to September 2017, the DFM’s revenue decreased to AED 74 million from AED 81.1 million the comparative period of 2016, while its expenses reached AED 46.3 million in Q3-17 versus AED 45.7 million in the corresponding period of 2016.
Trading value decreased by 23% to AED 16.7 billion in the third quarter of 2017 from AED 21.7 billion in the corresponding period of 2016.
“The DFM started the year with a strong note, with a 19% increase in its trade value during the first quarter,” said Essa Kazim, the DFM Company’s chairman.
“The market activity has slowed down during the second and third quarters, affecting the Company’s revenues and profits,” the top official added.
