INTL FCStone Inc. (INTL) has reported a 28.41 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $6.30 million, or $0.34 a share in the quarter, compared with $8.80 million, or $0.46 a share for the same period last year.
Revenue during the quarter grew 11.30 percent to $114.30 million from $102.70 million in the previous year period.
Sean M. O'Connor, chief executive officer of INTL FCStone Inc., stated "We achieved record operating revenues of $185.5 million, up 23% due largely to the addition of the Sterne Agee securities clearing and independent wealth management businesses as well as the ICAP energy voice execution business. Diluted EPS was $0.34, down 26% from a year ago although four out of five of our segments achieved growth in operating revenues and segment income. Securities segment income was down 41% largely because of prior period gains in Argentina related to the significant devaluation in the peso. Global Payments realized an increase in segment income of 32%, largely due to a 53% increase in transactional volume. Physical Commodities segment income was up 200% as both precious metals and agricultural activities performed better, while the financial results in Commercial Hedging marginally improved over the prior year. Segment income for Clearing and Execution Services was up 63% due to improved results in exchange listed futures and options as well as the inclusion of the recently acquired Sterne Agee and ICAP businesses."
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