Nairobi Securities Exchange's profit jumps

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Nairobi Securities Exchange1 Reuters. A stockbroker transacts shares during a trading session at the Nairobi Securities Exchange in Kenya's capital Nairobi.

Nairobi - Kenya's Nairobi Securities Exchange (NSE), which is listing its shares next month, posted a 46 percent year-on-year jump in its pretax profit for the first half to 158.2 million shillings (R19 million).

The 60-year old bourse, whose initial public offering closed on August 12 ahead of the listing, said earnings grew on the back of a 26-percent jump in its revenue, thanks to increased trading of equities.

Trading in the bourse's shares starts on September 9.

NSE said the value of trades in the fixed income market fell 14 percent from a year earlier to 457 billion shillings.

It did not offer an explanation.

The exchange adjusted its prior year pretax profit to 108.7 million shillings, having removed the one-off recovery of a bad debt of 114.9 million shillings, from the 223.7 million reported earlier. - Reuters

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