Dubai Financial Market first half net profit fell 57 percent to AED79.5m - report.
Dubai Financial Market (DFM), the only listed Gulf Arab stock market, said on Saturday that its second-quarter net income was AED25.9m ($7.1m).
According to calculations by newswire Zawya Dow Jones, DFM’s second quarter net profit stood at AED128.3m a year earlier.
According to the newswire, DFM said in an e-mailed statement that the stock market’s first half net profit fell 57percent to AED79.5m from AED186.7m in 2009.
“The statement did not give a profit figure for 2Q 2009. Zawya Dow Jones calculated it from Zawya.com data,” the newswire added.
DFM, which commenced operations on March 26, 2000 is operating as a secondary market for trading of securities issued by public joint-stock companies, bonds issued by the federal government or any of the local governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market.