Nairobi Stock Exchange reports 22 pct rise in first-half profit - CNBC Africa

Nairobi Stock Exchange reports 22 pct rise in first-half profit

East Africa

by Thabile Manala 0

The Nairobi Stock Exchange reported a 22.3 percent rise in pretax profit for the first six months of the year. PHOTO: www.africanmarkets.com

The Nairobi Stock Exchange on Monday reported a 22.3 percent rise in pretax profit for the first six months of the year, and said it was on track to launch a new derivatives market this year.

The Kenyan bourse, which listed last year, said pretax profit in the period through June rose to 218 million shillings ($2.1 million) from 179 million in the same period last year. Total income climbed 13.6 percent to 401 million shillings.

"The board ... is optimistic of (a) continued good performance in the second half of 2015," the company said in a statement.

It added that it planned to launch new products and services, including a derivatives market that would allow clients to hedge currency and interest-rate risks. 

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