#Dubai Financial Markets reports 21% growth in first half profit as it appoints new chief executive - The National

Dubai Financial Markets reports 21% growth in first half profit as it appoints new chief executive - The National:

DFM company, the operator of the Dubai Financial Market, said net profit rose 21 per cent in the first half of the year as it benefitted from higher trading volumes during periods of market volatility.

Net profit for the six-month period rose 21 per cent to Dh78.9m, and revenue rose 11 per cent to Dh181.1m.

“During the first six months of 2020, the DFM’s trading value has exceeded Dh31 billion, a 25 per cent increase compared to the corresponding period of 2019,” the company’s chairman, Essa Kazim, said.

He also said the market’s performance in the second quarter indicated its resilience, as the DFM general index rebounded by 16 per cent, “restoring a considerable percentage of its previous decline”.