Dubai Financial Market adds 2,627 new investors during first nine months of 2016

DUBAI, 31st October, 2016 (WAM) -- The Dubai Financial Market, DFM, has successfully attracted 2,627 new investors during the first nine months of 2016 including 418 institutions, lifting the total number of DFM-registered investors to approximately 839,000. The foreign investors’ ownership in DFM also increased to 22.2 percent during the period, in a strong indication of their confidence in the market and its world class infrastructure and regulations, according to Essa Kazim, Chairman of DFM. He said that institutional investors have increased their participation in the market from 25.3 percent of the trading value during the first nine months of 2015 to 28.3 percent during the same period of 2016, with a net buying of AED 1.5 billion. He further stated that the DFM General Index has been the best performing amongst stock markets in the GCC region and came fourth amongst the leading indices globally, advancing 10.3 percent during the first nine months of the year. He was commenting on the financial results for the first nine months of 2016 of the company announced yesterday. The company recorded a net profit of AED175million, a 29 percent decrease from AED 245.5 million in the same period of 2015. Net profit in the third quarter of 2016 reached AED 35.4 million, compared to AED 45.4 million in the third quarter of 2015. Total revenue decreased by 19 percent to AED 308.1 million during the period, compared to AED 381.8 million during the corresponding period of 2015. The revenue comprised AED 248.6 million of operating income and AED 59.5 million of investment returns. Company expenses reached AED 138.5 million by the end of September 2016 compared to AED 136.3 million in the same period of 2015. During the third quarter of 2016, revenue reached AED 81.1 million compared to AED 89.2 million in the third quarter of 2015, whilst expenses amounted to AED 45.7 million in the same period compared to AED 43.8 million. It is noteworthy that the total value of trading on DFM decreased by 31 percent to AED 91.2 billion during the first nine months of this year compared to AED 132 billion in the same period last year. The daily average of trading value decreased 30 percent to AED 488 million compared to AED 698.4 million during the same period of 2015. During the third quarter of this year, trading value decreased 24 percent to 21.7 billion compared to AED 28.5 billion in the same period of 2015. - Emirates News Agency, WAM - http://www.wam.ae/en/news/economics/1395302001074.html