DFM, the Arab world’s only listed bourse, had quarterly profit of 5.9 million dirhams ($1.61 million), according to Reuters calculations. This compares to a profit of 88.6 million dirhams in the year-earlier period.

Two analysts polled by Reuters forecast DFM would make a fourth-quarter profit of between 3 million and 23 million dirhams.

DFM posted a full-year profit of 78.9 million dirhams, according to a statement, down 77 percent from 347 million in 2009.

DFM said 2010 revenues stood at 260.5 million dirhams, down frin 502.9 million dirhams in 2009.

Revenues have slumped along with bourse turnover, which fell to a six-year low of 69.7 billion dirhams ($18.98 billion) in 2010, down from 173.5 billion dirhams in 2009 and less than a quarter of the 2008 total.

“The 60 percent decline in DFM trading value in 2010 was considerably reflected in our revenues and net profits,” Essa Kazim, chief executive of DFM said in a statement.

A lack of buying interest has also weighed on equity valuations, with Dubai’s index <.DFMGI> falling 9.6 percent in 2010 to be the worst performing Gulf Arab benchmark.