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Dubai Financial Market's fourth-quarter net profit soars 406 pct
February 6, 2017 / 7:08 PM / 7 months ago

Dubai Financial Market's fourth-quarter net profit soars 406 pct

Feb 6 (Reuters) - Dubai Financial Market (DFM), the Gulf’s only listed stock exchange, reported a 406 percent jump in fourth-quarter net profit on Monday.

* Net profit of 78.5 million dirhams ($21.4 million) in the three months to Dec. 31, up from 15.5 million dirhams a year earlier, it said in a statement.

* Quarterly revenue increased to 131.2 million dirhams from 69.3 million dirhams.

* For full-year 2016 the company posted net profit of 253.5 million dirhams, down from 261 million dirhams in 2015.

* Trading value on the market dropped 12 percent to 133 billion dirhams in 2016, with the company citing low oil prices and volatility in international markets. (Reporting by Andrew Torchia; Editing by David Goodman)

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