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.

In its results statement, the bourse also said it expected further listings on the Growth and Enterprise Market Segment and new listings of Real Estate Investment Trusts (REITS).

The board recommended a first and final dividend for 2014 of 0.38 shillings.