Dubai Financial Market reports 70 per cent Q3 profit slump

Dubai Financial Market (DFM), the Arabian Gulf’s only listed stock exchange, reported a 70 percent fall in third-quarter net profit on Monday as trading activity plunged, tracking a slump in oil prices.

The company, which runs securities trading in Dubai, made a net profit of Dh45.4 million in the three months to September 30, down from a net profit of Dh153.5m in the year-ago period, a statement said.

Trading commissions are the main source of income for DFM. During the third quarter, the value of trades on the exchange fell 63 per cent to Dh29 billion, year-on-year.

Dubai’s government owns a majority stake in DFM through holding company Borse Dubai.

Follow The National’s Business section on Twitter


Business RSS feed - The National

About Author

You may also like

ADFF Introduces New Award for Environmental Films

  • September 7, 2011
WAM Abu Dhabi, Sept. 6th, 2011 (WAM) -- The Abu Dhabi Film Festival (ADFF), organized by Abu Dhabi Authority for

DCL analyzes thousands of food and environmental samples

  • September 7, 2011
Tue 06-09-2011 22:08 PM WAM Dubai, Sept. 6th, 2011 (WAM) -- Food and Environment Laboratory Section of Dubai Central Laboratory