Finance DFM profit rises 62% on higher trading activity By Pramod Kumar July 30, 2024, 4:11 AM Wam The market capitalisation of DFM-listed companies stood at AED679 billion by the end of the first half of 2024 Dubai Financial Market, the operator of the emirate’s stock exchange, reported a 62 percent rise in net profit for the first six months of 2024 on higher trading activity and new investors. DFM net profit increased to AED181 million ($49.3 million) in the first half, compared with AED112 million a year ago. Total consolidated revenue jumped 40 percent year on year to AED306 million, including AED154 million from operating income and AED152 million from investment returns and other income. NewsletterGet the Best of AGBI delivered straight to your inbox every week Total expenses excluding tax increased to AED110 million compared with AED106 million in H1 2023. Trading activity surged to just over 1 million trades, up 22 percent, from the same period last year. Additionally, the total trading value rose 4 percent year on year to AED48 billion. UAE capital markets partner with Hong Kong exchange Drake & Scull announces positive note after return to markets Healthcare sector props up Gulf IPOs in 2024 The bourse attracted 72,583 new investors, 85 percent of whom were from foreign countries. Institutional investors were the most active, accounting for 66 percent of the trading value, with net purchases by foreign investors at AED1.2 billion. The market capitalisation of DFM-listed companies stood at AED679 billion by the end of the first half of the year.
