120 million dirhams, net profit of the Dubai Financial Company during...

120 million dirhams, net profit of the Dubai Financial Company during...
120 million dirhams, net profit of the Dubai Financial Company during...

The Financial Market Company announced yesterday its financial results for the first nine months of this year ending on September 30, 2020, which showed a net profit of 120.1 million dirhams, an increase of 26% compared to the profits for the same period in 2019, which amounted to 95.5 million dirhams. .

The company stated in a statement yesterday that the net profit during the third quarter of this year amounted to 41.1 million dirhams, compared to 30.4 million dirhams in the same period in 2019, an increase of 35%. The company’s total revenues reached 271 million dirhams, compared to 241.6 million dirhams in the same period last year. Revenues were distributed by 175.2 million dirhams from operating operations, and 95.8 million dirhams from investments and other income.

Expenditures at the end of September 2020 reached 150.9 million dirhams, compared to 146.1 million dirhams during the same period of 2019. As for the company’s revenues during the third quarter of this year, they amounted to 89.8 million dirhams, compared to 78.1 million dirhams in the same quarter of 2019. While the third quarter expenditures amounted to 48.7 million dirhams, compared to 47.7 million dirhams in the third quarter of 2019.

The Chairman of the Dubai Financial Market Company, Issa Kazim, said that the diversification of products and asset classes is one of the most important pillars of the Dubai Financial Market strategy, pointing out that this strategy has gained great momentum, as the market witnessed during the third quarter the listing of the Traded Index Fund of Chimera Capital. The stock futures trading platform was launched and started its trading in the market last week.

He added, “We are working in the next phase to enhance this strategic direction by including more traded funds, in addition to real estate investment funds, and expanding the scope of the futures contracts platform for stocks and other asset classes, in order to provide investors with various investment opportunities.”

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