Dubai Financial Market announces first half net profit of Dhs560m

DFM Company recorded a net profit of Dhs560m from operational activities and investments for the first half of 2008, an increase of 100% compared to Dhs280m in net profit from operational activities and investments for the same period in 2007.

The company recorded total revenues of Dhs637m during the first half of 2008, including Dhs454m from operational activities and Dhs183m from investments, up 70% compared to Dhs375m in total revenues for the same period in 2007.

"I am very pleased to share our financial results for the first half of this year," said Essa Kazim, Chairman of Dubai Financial Market. "Our ongoing profitability, and overall expansion, would not be possible without the enormous confidence that investors continue to place with us, in addition to their ongoing support for DFM's efforts to diversify its investments options, which provide them with positive returns.

"As the region's first publicly-listed bourse and on our way to becoming the first fully Sharia-compliant exchange, DFM provides regional and international investors with a signal opportunity to participate in the incredible growth story of Dubai, the UAE and the wider region. To that end, we were very pleased to continue our series of international investor conferences, launched last year, by hosting in May our second annual international investor conference in London, which saw more than 400 meetings held between 250 fund managers and institutional investors and 14 senior representatives of companies listed on DFM.

"At home, we continued our expansion by welcoming a number of new listings in the first half of this year, bringing the total number of joint stock companies listed on DFM to an impressive 60.

"DFM will remain focused on providing superior financial performance and innovative enhancements to our already broad range of services. We look forward to continuing to reinforce our position as the leading financial exchange in this high-growth region."