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Dubai Financial Market Q2 net profit falls 60%

Dubai Financial Market Q2 net profit falls 60%

Revenues also fell by around 44 per cent to Dhs 100m in the second quarter

Dubai Financial Market (DFM), the Gulf’s only listed stock exchange, reported a 60 per cent fall in second-quarter net profit on Monday as revenue fell.

The firm made a net profit of Dhs 53.5m ($14.6m) in the three months to June 30, down from Dhs 132.4m in the year-ago period, it said in a statement.

Revenues fell to Dhs 100m in the quarter, compared with Dhs 178.1m in the corresponding three months of 2015.

Trading commissions are the main source of income for DFM. While it did not provide a quarterly breakdown, the firm said the value of shares traded in the first six months of 2016 was down 32.7 per cent year on year to Dhs 69.5bn.

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


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