Dubai Financial Market reports a 24% increase in net profit for 2024, driven by strong trading volumes
Dubai Financial Market (DFM) announced on Thursday that its net profit for 2024 increased by 24% compared to the previous year, reaching $111.6 million (AED 409.3 million). This was due to high trading volumes, large investments, and more activity from both retail and institutional investors.
Full-year performance
For the whole year, DFM reported total revenue of $172.2 million (AED 632.3 million), a 15.5% rise from 2023. This included $96.1 million (AED 353.1 million) from operations and $76 million (AED 279.2 million) from investments and other sources.
DFM raised $2.85 billion (AED 10.48 billion) through three successful initial public offerings (IPOs) in 2024. The exchange’s market value grew by 32%, reaching $246.94 billion (AED 907 billion) by the end of the year. Its average daily trading value also rose by 5%, hitting $115.2 million (AED 423 million), while the total trading value grew by 5.5% to $29.1 billion (AED 107 billion).
The DFM General Index increased by 27.1%, closing at 5,158.67, its highest since September 2014. Dubai remained the best-performing market in the GCC for the second year in a row, marking its biggest annual growth in three years and continuing DFM’s rise for the fourth straight year.
Crucial quote
DFM’s board also proposed a cash dividend of $69.7 million (AED 256 million), which is 3.2% of the capital and 97% of the earnings available for distribution.
DFM Chairman Helal Al Marri said, “The strong results show Dubai is a top choice for global investors. This is in line with our goal to make Dubai a leading international financial hub. We will keep working on attracting global capital and creating long-term value for everyone involved.”
Published: 31th January 2025
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