(Corrects story to show a 29 percent fall in profits not a 46
percent rise. The company said profit rose only when a one-off
item was stripped from 2013 figures. Corrections made to
headline and paragraphs 1, 2 and 4.)
NAIROBI Aug 26 Kenya's Nairobi Securities
Exchange (NSE), which is listing its shares next month, posted a
29 percent year-on-year fall in its pretax profit for the first
half to 158.2 million shillings($1.78 million).
The 60-year old bourse, whose initial public offering closed
on Aug. 12 ahead of the listing, said earnings figures showed an
increase in total revenues after trading of equities rose.
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.
Pretax profit in the first half of 2013 was 223.7 million
shillings. The exchange said that last year's figure benefited
from a one-off recovery of bad debt worth 114.9 million
shillings. With this one-off figure stripped out from the
first-half 2013 earnings, profit before tax in 2014 rose 46
(1 US dollar = 88.7500 Kenyan shilling)
(Reporting by Duncan Miriri; Editing by Edmund Blair and Keiron