The Nairobi Securities Exchange (NSE) has reported a 72 percent increase in Profit after tax for the six months ending 30 June 2018 to 133.9 million shillings up from Ksh 77.8 million recorded in the same period last year.
NSE Chief Executive Geoffrey Odundo says the bourse is optimistic of improved performance in the second half of the year on the back of steady political environment, stable interest rates and currency environment.
NSE has been investing in product development and innovation to enhance performance.
The bourse has recorded an increase in total income of 24% up from Kshs. 283 million to Kshs. 351 Million in the first half of 2018.
Odundo attributes the growth to a 32% increase in equity turnover from Kshs 82 Billion to Kshs. 108.5 Billion.
Bonds turnover also increased by 30% from Kshs. 239 Billion to Kshs. 311 Billion for the same period in 2018.
Interest income and other income increased by 25% and 18% to settle at Kshs. 58.9 million and Kshs. 20.2 million respectively due to prudent management of funds and deposits despite the prevailing low-interest rates.
Odundo says they are “optimistic the Exchange will maintain improved performance in the second half of the year on the back of steady political environment, stable interest rates and currency environment, improved weather conditions and heightened investor confidence in our market”.
The Group’s balance sheet also recorded a 14% growth from Kshs. 2.02 Billion to Kshs. 2.3 Billion on account of improved performance in the period.
The NSE is currently conducting a pilot phase test for the Derivatives Market and upgrading our trading system to enhance its business and technical perspectives.