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Dubai bourse operator’s Q3 profit surges 27% to $26m

By Pramod Kumar
The Dubai bourse attracted 91,151 new investors, of which 85 percent were foreigners who invested AED1.5 billion Wam
The Dubai bourse attracted 91,151 new investors, of which 85 percent were foreigners who invested AED1.5 billion

Dubai Financial Market, the stock exchange operator, said net profit rose 27 percent to AED94 million ($26 million) in the third quarter of 2024 compared to AED74 million a year earlier.

Revenue jumped 12 percent year on year to AED155 million as trading volume increased to 1.7 million, a 20 percent year on year increase.

However, the total trading value declined by 6 percent annually to AED73 billion.

In the nine months, the topline rose 29 percent to AED460 million, compared to AED356 million a year ago. Bottomline gained 48 percent year on year to AED276 million.

Operating income stood at AED246 million, while investment returns and other income reached AED215 million.

Total expenses, excluding tax and provisions, rose to AED162 million from AED155 million a year earlier.

The bourse attracted 91,151 new investors, of which 85 percent were foreigners who invested AED1.5 billion. Institutional investors accounted for 65 percent of the total trading value during the first nine months.

Market capitalisation of DFM-listed companies reached AED757 billion by the end of September 2024.

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