FC Stone sees Revenues up 14% in Q2

Multinational financial and execution services company INTL Fcstone Inc (NASDAQ:INTL) has announced its financial results for the fiscal year 2015 second quarter ended March 31, 2015.

Sean M. O’Connor, CEO of INTL FCStone Inc., stated, “We are very pleased to report our third consecutive quarterly record in operating revenues as well as much stronger quarterly net earnings of $13.0 million, close to our long term target of a 15% ROE.”

“Earnings per share for the quarter was $0.67, up 72% on the same quarter last year, and on a year to date basis EPS was $1.16, up 127%. All of our business lines showed growth in transactional volumes due to better market conditions and increased market share. Securities was a stand-out this quarter with segment earnings up 221% off the back of much stronger revenues from equity market making and the newly acquired fixed income business, which performed above our expectations and was accretive to earnings. For the six months to date, all of our business segments realized very strong growth in segment income” concluded Mr. O’Connor.

Operating revenues for the first quarter of this year increased 21% compared with the first quarter of 2014, a dynamic which is also present when comparing the second quarter’s revenues to the first quarter of 2015.

Compared with the first quarter of this financial year, operating revenues increased by 13.9% to $156.6 million for the second quarter of the financial year which ends on March 31, compared to $137.5 million during the previous quarter.

Introducing broker commissions remained relatively level, rising very slight from $12.2 million in the first quarter of the year to $12.3 million in the second quarter.

As far as operating metrics and trading volumes are concerned, total non-interest expenses increased from $121.2 million in the first quarter of this financial year, to $133.9 in the second quarter.

OTC trading volume increased substantially to 448,800 contracts, a remarkable 54.6% increase compared with the previous quarter’s 290,200 contracts.

Exchange traded contracts, whilst not increasing at anything like the rate achieved by INTL FCStone with regard to OTC trading activity, increased to 26,182,700 contracts compared with 25,176,400 contracts in the previous quarter.



For the official announcement from INTL FCStone, click here.

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