Dubai Financial Market first-quarter profit up 27%

Dubai Financial Market, the Gulf’s only listed stock exchange, reported a 27 per cent rise in first-quarter net profit on Sunday as trading activity increased.

The firm made a net profit of Dh86 million in the three months to March 31, up from Dh67.7m in the year-ago period, it said in a statement.

Trading commissions are the main source of income for DFM, and Dh40.6 billion worth of shares were traded in the first quarter of 2016, up from Dh37.7bn a year earlier.

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

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