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Nairobi Securities Exchange's profit jumps

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.

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

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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