Dubai Financial Market Q2 net profit falls 60 per cent

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 Dh53.5 million in the three months to June 30, down from Dh132.4m in the year-ago period, it said in a statement.

Revenues fell to Dh100m in the quarter, compared with Dh178.1m 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 Dh69.5 billion.

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

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