UAE stock market operator DFM profit surges 696% in the first quarter | The National

UAE stock market operator DFM profit surges 696% in the first quarter | The National:



"Dubai Financial Market, the only publicly listed stock exchange in the Arab world, reported a 696 per cent increase in first-quarter net profit amid a surge in trading volumes.



“DFM is witnessing thriving activity since the beginning of this year,” said the chairman Essa Kazim.



Net income for the period ended March 31 rocketed to Dh215.1 million, compared with Dh27m in the year earlier period. Revenue rose to Dh255.6m in the quarter, compared with Dh65.7m in the year earlier period.



Traded value jumped 428 per cent to Dh110 billion, compared with Dh20.8bn in the same period last year. Trading commissions are the bread and butter for the exchange."



'via Blog this'