The Dubai Financial Market Company (DFM) reported a 24% year-on-year increase in net profit (pre-tax) for the fiscal year ending December 31, 2024, reaching Dh409.3 million compared to Dh329.6 million in 2023. The growth was driven by higher trading volumes, robust IPO activity, and a surge in retail and institutional investor participation, according to the company’s consolidated results announced today.
DFM’s total revenue for 2024 rose by 15.5% to Dh632.3 million, up from Dh547.3 million in 2023. This included Dh353.1 million from operating income and Dh279.2 million from investment returns and other income. Expenses, excluding taxes, amounted to Dh223 million, a slight increase from Dh217.9 million the previous year.
The Board of Directors approved the results for ratification at the upcoming Annual General Assembly Meeting. A proposed cash dividend of Dh256 million, representing 3.2% of the capital and 97% of retained earnings available for distribution, will be considered at the meeting.
The DFM General Index surged 27.1% in 2024, closing at 5,158.67, its highest level since September 2014. This growth marked the largest annual gain in three years and continued the index’s four-year upward trajectory. The market capitalisation of listed companies grew to Dh907 billion, up 32% from Dh688 billion in 2023.
The average daily trading value (ADTV) increased by 5% to Dh423 million, while the total traded value rose by 5.5% to Dh107 billion.
Three IPOs were completed in 2024, including Talabat’s listing, the largest global tech IPO of the year, and Parkin and Spinneys listings. Together, they raised Dh10.48 billion, significantly higher than the Dh1.97 billion raised in 2023.
Retail investors played a critical role, contributing 35% of total trading activity, compared to 31% in 2023. Both Parkin and Spinneys increased their retail tranches due to strong demand.
DFM onboarded 138,262 new investors in 2024, a 120.5% increase from 62,676 in 2023. Foreign investors accounted for 85% of new registrations and contributed 50% of total trading value, up from 47% in 2023. Their market capitalisation share stood at 21% at year-end.
Institutional investors also increased their participation, with their trading share rising to 65% compared to 58% in 2023.
