Wednesday October 28, 03:33 PM
Dubai bourse 9-mth profit slumps 67 pct
DUBAI, Oct 28 (Reuters) - Bourse operator Dubai Financial Market said on Wednesday its net profit fell 67 percent in the first nine months of the year, citing the global financial crisis.
Net profit stood at 258 million dirhams in the period to Sept. 30, from 781 million dirhams in the prior-year period.
DFM, whose parent company Borse Dubai, has a stake in the London Stock Exchange (LSE: LSE.L - news) , did not give a breakdown of quarterly results.
Third quarter net profit fell 68.8 percent to 71.2 million dirhams, according to Reuters calculations based on previous financial statements. It had profit of 228.2 million dirhams in the same quarter in 2008.
'The latest trends strengthen our positive outlook on the market for the remainder of the year, enabling the DFM company to record stronger results for the full year in 2009,' DFM's executive chairman Essa Kazim said in a statement.
(Reporting by John Irish; editing by Amran Abocar) Keywords: DFM EARNINGS Keywords: DFM EARNINGS
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