Dubai Financial Market returns to profit in Q3

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Dubai Financial Market (DFM), the Gulf's only listed stock exchange, swung to a third-quarter net profit due to higher trading values and bullish investor sentiment on back of continued economic recovery in the emirate.

The firm, which runs securities trading in Dubai, made a net profit of AED82.8m ($22.5 million) in the three months to September 30, compared with a net loss of AED1.7m in the same period of 2012, a statement said.

The results beat estimates by two analysts. HSBC expected DFM to make a profit of AED76m and Global Investment House forecast AED65m.

Third-quarter revenue more than tripled to AED122.2m, and quarterly trading value jumped to AED49bn year-on-year from AED8.1bn.

Related:

Market Performance

Dubai Financial Market
2.62
0.06 2.34 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Why PE's back in vogue in the Middle East

Why PE's back in vogue in the Middle East

Confidence is returning to the Gulf’s private equity market after...

Saudi bank's $6bn IPO ignites religious controversy

Saudi bank's $6bn IPO ignites religious controversy

Plans by National Commercial Bank have prompted some clerics...

Petroleum producers shift attention from Middle East: Kemp

Petroleum producers shift attention from Middle East: Kemp

Following four decades of war, sanctions, nationalisation and...

1
Most Popular
Most Discussed