Dubai – Mubasher: Dubai Financial Market Company (DFM Company) posted a 43% year-on-year drop in its profits for the first quarter of 2019.
Net profits recorded AED 28.1 million in Q1-19, compared to AED 48.9 million in Q1-18, the company said in a statement on Sunday.
Similarly, total revenues decreased by 21% to AED 77.9 million by the end of March, against AED 99.1 million in the same period of the prior year.
operating expenses of DFM Company stood at AED 49.8 million in Q1-19, from AED 50.2 million in Q1-18.
The total value of DFM’s trading has decreased by41.4% to AED 11.9 billion during the first three months of 2019, versus AED 20.4 billion in the corresponding period of the previous year.
“The first quarter of 2019 witnessed the implementation of new initiatives to further diversify DFM’s products and services in line with our 2021 strategy. Within this context and in conjunction with DFM’s 19th anniversary, we have launched the new organizational structure for post-trade services in line with international best practices,” Essa Kazim, chairman of DFM Company, commented.
It is worth noting that DFM Company reported a 46% year-on-year drop in profits for the full-year 2018, recording AED 125.5 million.
