NSE half year profit jumps 72% to Sh133.7 million

The Nairobi Securities Exchange (NSE) recorded Ksh133.7 million profit after tax for the half year in results released by the bourse on August 23. During the same period in 2017, NSE registered Ksh77.8 million.

NSE credited the 72% jump in profit to the improvement in global economic growth, a relatively stable macroenvironment and a buoyant market performance during the period under review.

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Equity and bonds turnover edged up 32% and 30% to settle at Ksh108.5 billion and Ksh311 billion respectively for the six months of 2018. This contributed to operating income increasing by 24%.

The NSE 20 Share Index decreased by 9% while the NSE All Share Index jumped 14%. Market capitalisation meanwhile increased by 16% to settle at Ksh2.58 trillion by June 30.

Bourse chief executive Geoffrey Odundo said the NSE remains “vigilantly positive” on the outlook for the remainder of the year but added that a review of the proposed financial taxes means any future projections on market activity remain “cautious.”

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Mr. Odundo also stated there will be upgrades in the coming months to the trading platform.

The NSE Board of Directors did not recommend the payment of an interim dividend for the first half of the year.