(MENAFN- Gulf Times) Dubai Financial Market (DFM), the Gulf's only listed stock exchange, reported a 69% drop in first-quarter net profit yesterday as trading volumes fell.
The firm, which runs securities trading in Dubai, made a net profit of 67.7mn dirhams ($18.4mn) in the three months to March 31, down from a net profit of 215.1mn dirhams in the year-ago period, it said in a statement.
HSBC had forecast DFM would post first-quarter net profit of 78.0mn dirhams.
Trading commissions are the main source of income for DFM and traded value fell to 38.2bn dirhams in the first quarter 2015 from 110bn dirhams in the same period of 2014.
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