Dubai’s DFM reports 85% jump in Q3 net profit

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Dubai Financial Market (DFM), the emirate’s main stock exchange, reported an 85 percent rise in third-quarter net profit on Monday as bourse turnover increased.

DFM made a net profit of AED153.5 million ($42 million) in the three months to Sept. 30, up from AED82.8 million in the same period of 2013, it said in a statement.

Global Investment House had forecast DFM’s quarterly profit would be AED160 million.

The traded value of DFM stocks rose 60 percent to AED78.4 billion in the third quarter, up from AED49 billion a year earlier.

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