Nairobi Stock Exchange reports 16 pct rise in pretax profit

Kenya's Nairobi Stock Exchange on Friday reported a 16 percent rise in pretax profit, helped by a surge in equity turnover.

The bourse, which listed after an initial public offering last year, reported pretax profit of 441.8 million shillings ($4.8 million) in 2014, from 379.5 million shillings in 2013.

Total income climbed 32 percent to 821.9 million shillings, mainly driven by a 39 percent increase in equity turnover to 431 billion shillings in 2014.

"Investor interest in Kenya and the broader east African region remains strong," the bourse said, citing expanding consumer services, a growing middle class and improving infrastructure.

It said the exchange was on course to launch a derivatives market. Chief executive Geoffrey Odundo told Reuters in March the exchange would work with banks to set up a clearing house to offer derivatives from the second quarter.

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