Nairobi Securities Exchange (NSE) has recorded a 4.5 per cent drop in its 2015 full year results. According to the financial results released on Thursday, the NSE saw its net profits dip to Sh. 305.6 million.
The bourse’s total income declined to Sh808.3 million from Sh821.9 million in 2014. NSE’s expenses rose last year by 15.1 per cent from Sh389.5 million to Sh448.3 million.
Following the results, the bourse recommended a dividend payment of Sh. 0.49 per share. This was a 29 per cent improvement from the pay-out of 38 cents per share made in 2014.
The NSE attributed the fall in net profits to reduced market activities by investors. “This was driven mainly by the three per cent decrease in equity turnover from Sh431 billion in 2014 to Sh419 billion in 2015,” the NSE said in a statement.
The results, though, did not appear to grievously affect the NSE share on the local market. By the time Bizna went to press, the NSE stock was trading at Sh. 24.75 per share, which was a gain of 4.21 per cent.