DFM’s net profit plunges 66% in FY15

Dubai Financial Market’s (DFM) net profit for fiscal year 2015 plunged 66 percent year-on-year (YoY) to AED 261 million due to a drop in trading activity triggered by lower oil prices, the GCC’s only listed stock exchange said in a bourse statement.

“The DFM company’s revenue and profit have been affected by the 60 percent decline in the trading value during 2015 to AED 151.4 billion compared to AED 381.5 billion in 2014, as the trading commission represents the main revenue stream for the company,” Essa Kazim, chairman of DFM said.

DFM’s board of directors proposed a five percent cash dividend, equivalent to AED 400 million.

Dubai's government holds a majority stake in DFM through holding company Borse Dubai.