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FINANCIAL NEWS
Dubai bourse reports sharp drop in H1 profits
25 Jul 2010
(MENAFN) Dubai Financial Market (DFM) Company has registered a 57 percent drop in its net profit for the first half which fell to $21.65 million from $50.3 million in the corresponding period last year, Khaleej Times reported.
DFM said its net profit for the second quarter stood at $7.05 million. The company netted $19 million in revenues during the period, which comprised $14 million of operating income and $4.96 million representing the return on investments.
DFM Company?s revenue and profit was affected by a 32 percent decline in trading value during the second quarter of the year which fell to $5.2 billion compared to $7.2 billion in the first quarter, the statement added.
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