Dubai – Mubasher: Dubai Financial Market Company (DFM Company) on Wednesday posted a 46% year-on-year drop in profits for the full-year 2018.
Net profits amounted to AED 125.5 million in 2018, compared to AED 232.9 million in 2017, according to the company’s statement.
The firm’s total revenues stood at AED 324.7 million for the year ended 31 December 2018, against AED 421.6 million in 2017.
DFM Company’s expenses reached AED 199.2 million during 2018, compared to AED 188.7 million in the year before, the statement said.
“The year 2018 has witnessed a remarkable acceleration in our efforts to implement of DFM's strategy 2021, which focuses on enhancing competitiveness, diversification of product offering, investment opportunities, continuous development and innovation of market services,” chairman of DFM Company commented.
For the fourth quarter of 2018, revenues decreased by 33% year-on-year to AED 72.8 million.
Net profit of decreased 63% to AED 21.8 million during the October-December period of 2018, compared to AED 59.5 million in the last quarter of 2017.
“The DFM has implemented numerous development plans during 2018; our plan to reorganize post-trade services in line with international best practices has made great strides,” the chairman added.
