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

by Thabile Manala 1 views0

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

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.