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FINANCIAL NEWS
Dubai Financial Market’s Q3 losses narrow
04 Nov 2012
(MENAFN) Dubai Financial Market Co (DFM) has lowered its quarterly loss to USD463,000 during the third quarter from USD2.53 million loss a year ago, on increased trading activity, Reuters reported.
The third quarter included Ramadan and the Eid al-Fitr holiday in the Gulf when business is slower.
The operator of the securities trading in Dubai also reported USD10.02 million revenue in the quarter, up from USD8.63 million a year earlier.
The company’s profits during the first three quarters of 2012 grew more than four times to USD10.6 million compared to last year, helped by new revenue from its margin trading business.
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