Dubai Financial Market Company, the operator of the DFM, reported a 35 per cent rise in its third-quarter profit boosted by higher trading volumes on the exchange.
Net profit attributable to owners of the company for the three months to September 30 jumped to Dh41.1 million ($11.2m), the company said on Tuesday in a statement to the DFM, where its shares trade. Total quarterly income rose 12 per cent to Dh90.4m from the same period in 2019.
“During the past three quarters, the trading value maintained steady growth registering 19 per cent, 30 per cent and 34.5 per cent, respectively compared to the corresponding periods of the previous year,” Essa Kazim, chairman of the Dubai Financial Market Company, said.
“The General Index advanced for the second consecutive quarter by 10 per cent, following its 16 per cent advance in the second quarter, restoring [a] considerable percentage of its previous decline.”
The company’s nine-month net profit rose 26 per cent to Dh120.1m from the year earlier period. Revenue jumped 12 per cent to Dh271m. Trading commission fees during the period climbed 29 per cent to Dh124.9m.
“This performance clearly indicates DFM’s resiliency in containing international market volatility due to the repercussions of unprecedented circumstances triggered by the Covid-19 pandemic,” Mr Kazim added.
The company's total assets grew to Dh9.85 billion at the end of September 2020, compared to Dh9.68bn on December 31 last year. The value of shares traded on the exchange in the nine-month period was up 28 per cent on the prior period to Dh51bn.
DFM also maintained its attractiveness to foreign investors who were responsible for 51 per cent of trading activity and 18 per cent of the market capitalisation at the end of September 2020, the company said.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
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Rock in a Hard Place: Music and Mayhem in the Middle East
Orlando Crowcroft
Zed Books
England v West Indies
England squad for the first Test Cook, Stoneman, Westley, Root (captain), Malan, Stokes, Bairstow, Moeen, Roland-Jones, Broad, Anderson, Woakes, Crane
Fixtures
1st Test Aug 17-21, Edgbaston
2nd Test Aug 25-29, Headingley
3rd Test Sep 7-11, Lord's
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Set-jetting on the Emerald Isle
Other shows filmed in Ireland include: Vikings (County Wicklow), The Fall (Belfast), Line of Duty (Belfast), Penny Dreadful (Dublin), Ripper Street (Dublin), Krypton (Belfast)
The lowdown
Badla
Rating: 2.5/5
Produced by: Red Chillies, Azure Entertainment
Director: Sujoy Ghosh
Cast: Amitabh Bachchan, Taapsee Pannu, Amrita Singh, Tony Luke
Result
Qualifier: Islamabad United beat Karachi Kings by eight wickets
Fixtures
Tuesday, Lahore: Eliminator 1 - Peshawar Zalmi v Quetta Gladiators
Wednesday, Lahore: Eliminator 2 – Karachi Kings v Winner of Eliminator 1
Sunday, Karachi: Final – Islamabad United v Winner of Eliminator 2
