Dubai Financial Market (DFM) has announced its financial results for the period ending 30th June 2024, showing a net profit before tax of AED 195.4M, a substantial 74 percent increase from 2023.
The first half of 2024 saw heightened trading activity, increased trade values, and a surge in new investors. DFM also hosted the Capital Market Summit, attracting over 1,000 global delegates and underscoring its position as a leading global listing venue.
Helal Saeed Al Marri, Chairman of DFM, expressed pride in their performance, noting the successful summit highlighted their commitment to a dynamic marketplace. He emphasised ongoing efforts in innovation and infrastructure to enhance Dubai’s financial market standing.
DFM’s total revenue for the first half of 2024 grew by 40 percent to AED 305.7M, with expenses rising to AED 110.3M. Trading activity saw a 22 percent increase, with 1.07 million trades and a 4 percent rise in trading value to AED 48B.
The exchange attracted 72,583 new investors, with significant foreign participation. Noteworthy IPOs included Parkin and Spinneys, both experiencing high levels of oversubscription.
DFM introduced ARENA by DFM, an innovative IPO platform, and an upgraded iVestor App, reflecting its focus on growth and innovation. The market capitalisation of listed companies reached AED 679B, with a diverse sector distribution. Hamed Ali, CEO of DFM and Nasdaq Dubai, highlighted the robust market performance and strategic initiatives driving continued growth and global appeal.
