NSE first half profits up 46%
26 August 2014, 19:01
Nairobi - 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 KES 158.2 million.
The 60-year old bourse, whose initial public offering closed on Aug. 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 Sept. 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 KES 108.7 million, having removed the one-off recovery of a bad debt of KES 114.9 million, from the 223.7 million reported earlier.
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