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DFM Nine-Month Net Profit Soars 97 Per Cent

DUBAI — The Dubai Financial Market Company (DFM Company) announced has announced its preliminary financial results for the first nine months of 2008, demonstrating consistent growth during a period of ongoing expansion.

DFM Company recorded a net profit of Dh781 million for the nine months of 2008, an increase of 97 per cent compared to Dh397 million (excluding IPO profit) in the same period in 2007, says a press release.

DFM Company recorded total revenue of Dh 879 million, including Dh 598 million in operating income for the first nine months of 2008 and Dh299 million representing the return on investments made by DFM Company. Total revenue increased by 67 per cent compared to Dh536 million (excluding IPO profit) in the same period in 2007.

DFM Company’s net profits for the third quarter of 2008 reached Dh221 million, an increase of 89 per cent compared to the same period in 2007.

Total revenues for the third quarter reached Dh260 million compared to Dh 161 million for the same period last year.

DFM added nine new listings during the first three quarters of this year, which has increased the total number listed securities on the market to 83 the release said.