The Nairobi Securities Exchange net profit for 2018 dropped 12 percent to KSh191 million from KSh216 million earned in 2017. The company’s total income went up by 4 percent from KSh753 million to KSh782 million largely supported by an increase in equities and bonds turnover. Equity sales grew by 2 percent to KSh351 billion while bond sales grew by 29 percent to KSh1.125 trillion.
NSE registered a 13 percent rise in administrative expenses which amounted to KSh560 million. The company attributed the increase to “a salary review alignment and revaluation deficit on the valuation of the NSE building.” The hike in expenses led to a drop in the firm’s profit for the year. The firm’s total assets increased from Ksh2.1 billion to KSh2.2 billion in the year under review.
NSE expressed optimism in the current financial year saying it plans to increase participation by bringing on board new products such as REITS, M-
The exchange says it aims to cut down its operating expenses through optimal use of resources and operational efficiency. The bourse also noted that it is in the process of migrating to a more efficient trading system before the end of June 30th 2019.
NSE board members recommend a Ksh0.49 dividend per ordinary share up from KSh0.30 dividend per share paid out in 2017
