Dubai Financial Market Q-2 Net Profit Dives 48%

Dubai Financial Market Q-2 Net Profit Dives 48%

DFM runs securities trading in Dubai, made a net profit of Dhs 132.4m in Q-2, off 48%  

Dubai Financial Market (DFM), the Gulf’s only listed stock exchange, reported a 48% fall in Q-2 net profit this week as the exchange turnover slumped.

The firm, which runs securities trading in Dubai, made a net profit of Dhs 132.4m ($36.05-M) in the 3 months to 30 June, down from a net profit of Dhs 252.5-M in the year-ago frame, a statement said.

DFM’s quarterly revenue was Dhs 178.1-M Vs Dhs 296.5-M a year earlier.

Trading commissions are the main source of income for DFM, and market turnover in 1-H of the year was Dhs 103-B, down from Dhs 237-B in 1-H of Y 2014.

Its half-year net profit fell 57% to Dhs 200-M.

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

Stay tuned…

HeffX-LTN

Paul Ebeling

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