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DFM Company see a Drop in Net Profit

Dubai, United Arab Emirates : 02 May 2010

DFM (Dubai Financial Market Company) has just released their profit figures for the initial three months of 2010 and they show overall profit figures of just under of Dh54 million which is a reduction of approximately 8% on the previous figures released. However analysts are noting that the DFM trading value has increased by 5% for the first three months of the year when compared to the figures for this period in 2009. A company spokes person said they are happy with the figures and are confident that they will pick up momentum again this year as the global recession eases.

Yesterday the new board of DFM held its first meeting and Abduljalil Yousef was elected as the new chairman, Rashid Al Shamsi is the new Vice chairperson and Essa Kazim is the new Chief Executive Officer and Directing Manager. It was decided these new positions would be maintained for a period of three years and they also agreed that the company’s next Annual General meeting will be held on the 21st of April 2010.

The new chairperson thanked those who elected him and said he hoped the new board would instill confidence in the DFM company shareholders and he also thanked ex-board members for their contribution to building the company up to what it is today.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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