The Dubai Financial Market Company on Saturday reported a 140 per cent surge in its net profit for the first half of the year, mainly on a significant jump in trading activity in the first six months.

The company declared a net profit of Dh40.6 million for the January-to-June period. Net profit for the June quarter was at Dh10.2 million, showing a 31 per cent increase over the second quarter of last year.

The DFM’s trading value has significantly improved by 45.5 per cent to Dh32.3 billion during the first six months of this year compared to Dh22.2 billion in the corresponding half of last year.

Trading value in the first half surpassed its levels during the entire year of 2011. Meanwhile, trading value increased 4.7 per cent to Dh11.8 billion in the second quarter of 2012 compared to Dh11.3 billion in the same period of 2011.

“As the trading commissions represent the main revenue stream, the significant improvement of DFM trading activity since the beginning of the year has left its positive mark on the company’s revenue and profit. The trading value of the first half of the year surpassing its levels witnessed throughout the full year of 2011, is undoubtedly a strong indication of the investors’ reignited interest,” DFM chairman Abdul Jalil Yousef Darwish said in a statement.

The DFM is evidently leading as the best performing regional market with its general index increasing 14 per cent year-to-date. Additionally, the daily average of trading value increased 44 per cent during the first six months of this year to Dh252 million compared to Dh175 million during the same period of 2011.

“We believe that the trading activity over the last few months represents an encouraging indication of restoring the common market activity levels in the future. We are deeply confident that DFM is fully geared up for a new era of sustainable growth owed to a series of strategic initiatives aimed to further improving its infrastructure according to international best practices. The exchange has successfully implemented 18 initiatives over the past two years as part of the new strategy adopted by the Board of Directors at the beginning of its tenure,” Darwish said.

The company recorded a total revenue of Dh118.7 million in the first half compared to Dh113.3 million during the same period last year. Revenue comprised of Dh94.3 million of operating income and Dh24.4 million of investment returns. Expenses reached Dh78.1 million compared to Dh96.4 million recorded during last year.

During the second quarter, the company’s revenue reached Dh49.6 million compared to Dh64.6 million in the second quarter of 2011, while expenses amounted to Dh39.4 million in the same period compared to Dh49.9 million during the second quarter in 2011.

“Our objective is to attract new companies from unrepresented sectors and diversify investment opportunities and asset classes through the introduction of new financial products,” DFM managing director and chief executive Essa Abdul Fattah Kazim said.