DFM Company records a consolidated net profit of AED 79.5 Million in the first half of 2010

Dubai Financial Market Company (PJSC) announced today its consolidated financial results for the first half of the year ending June 30th 2010, recording a net profit of AED 79.5 Million, with 57% decline compared to AED 186.7 Million in the corresponding period of 2009. Net profit for the second quarter of 2010 stood at AED 25.9 Million. The Company recorded AED 69.7 Million of revenues in the second quarter of 2010, which comprised of AED 51.5 Million of operating income and AED 18.2 Million representing the return on investments. Meanwhile, operating expenses amounted to AED 24.8 Million.

It is noteworthy that DFM Company's revenue and profit was affected by a 32% decline in trading value during the second quarter of the year to AED 19 Billion compared to AED 28 Billion in the first quarter.

Commenting on the results, Abduljalil Yousuf Darwish, Chairman of DFM Company said: "Over the recent months, DFM Company has embarked upon executing a series of development and investment plans which directly benefit our investors, in addition to the announcement of fully acquiring NASDAQ Dubai, all of which will further support the emirate of Dubai's drive to become the leading financial center in the region. In this regard, the Company successfully finalized the purchase of two thirds of NASDAQ Dubai. Additionally, the company effectively implemented the many stages of the consolidation process between the two exchanges. Undeniably, the management's restless and sincere effort over the last few months is an indication of a clear vision, full understanding of the challenges, and above all, it is based on an undisputed commitment to our investors as our paramount priority".