Nasdaq-listed international brokerage and financial services provider, StoneX Group recently published its financial numbers for the fourth quarter of the fiscal year 2021 (Q4 of FY21). For the three months ended 30 September 2021, the broker reported operating revenues of $390.1 million, which is an increase of 14% compared to the same period last year. In Q4 of FY20, the company posted $342.1 million in quarterly operating revenues.
In terms of net income, the figure touched $7.3 million during the latest quarter. The annual net income reached $116.3 million. The financial services provider saw growth across different divisions during the quarter ended 30 September 2021. Additionally, StoneX Group’s ROE improved in the last three months.
Sean M. O’Connor, CEO of StoneX Group Inc, said: “Although our fourth-quarter earnings were below our long-term target, we were pleased to see that for the fiscal year we achieved record operating revenues and a 13.9% ROE. Last year included the significant non-recurring gain on our acquisition of Gain Capital Holdings, Inc. (‘Gain’), adjusting for that we saw our core operating performance exceeded fiscal 2020, with adjusted net income up 24% and an adjusted ROE of 14.9%.”
While StoneX Group’s financial performance improved consistently in 2021, the broker expanded its services to meet the growing demand. In May 2021, StoneX Markets, a subsidiary of the financial services provider, StoneX Group, announced the introduction of major improvements to its self-service OTC platform for commodities trading.
Operating Revenues
One of the prominent drivers behind StoneX Group’s recent strong financial performance was a significant jump in its commission and clearing fees. The number climbed by 10% in Q4 of FY21 compared to the same period last year. Furthermore, consulting, management and account fees increased along with interest income. In the latest quarter, the cost of sales of physical commodities decreased.
Earlier this year, StoneX selected Genesis, a financial markets software provider, to digitize middle-office workflows for its fixed income and equities trading business.
