Oct 27 2011 |
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Dubai Financial Market Records Net Profit of AED 7.61 million for the 9 months ending 30 September 2011
Dubai, October 26th , 2011: The Dubai Financial Market Company (PJSC) announced today its financial results for the first three quarters of 2011 ending September 30th, with a 90% decline in net profit to AED 7.61 million compared to AED 77.84 million in the corresponding period of 2010. The total revenue, which comprised of operational, investment and other income, reached AED 145.12 million for the first nine months of 2011 compared to AED 205 million for the corresponding period of 2010, a decrease of 29%.The company recorded a net loss of AED 9.28 million throughout the 3rd quarter of 2011 compared to a net loss of AED 2.95 million in the 3rd quarter of 2010.
The constant drop in trading values overshadowed the company's revenue, as trading value decreased by 52.2% during the first three quarters of this year to AED 27.6 billion compared to AED 57.7 billion in the nine months to September 2010. In the same context, the trading value decreased by 42.3% to AED 5.2 billion in the third quarter of 2011 compared to AED 9.03 million in the third quarter of 2010.
About
Dubai Financial Market
:
Dubai Financial Market
(
DFM
) was established as a public institution with its own independent corporate body.
DFM
operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The
DFM
commenced operations on March 26, 2000. Following its initial public offering in November 2006, when
DFM
offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion,
DFM
became a public joint stock company. Following the IPO, the Government of Dubai retained the remaining 80 per cent of
DFM
Company through
Borse Dubai
Limited. www.dfm.ae
For further information, please contact:
Atef Fathy
Vice President - Public Relations
Dubai Financial Market
Tel: +971 (4) 3055334
Email: afathy@dfm.ae
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