STOCK brokerage firms posted mixed fortunes in the first half of the year to June, the same period that the
The NSE, set to self-list on Monday, is owned 90 per cent by 22 brokers whose income mainly comes from brokerage commissions and consultancy fees.
Dyer & Blair similarly experienced a significant 157.9 per cent climb in net profits to Sh17.8 million after commissions rose 11.1 per cent to Sh228.3 million.
"The first half was slightly better than in 2013 where foreign investors adopted a wait and see attitude,"
It was however not a party for all the intermediaries as some saw net earnings contract, largely on increased competition limited to equity and bond transactions.
"The industry is small and we are all struggling for a part of the little cake," Kirimi said. "The industry performance will be much better when new products like commodities and derivatives are introduced."
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