StoneX Group Inc. (NASDAQ:SNEX), the new owner of GAIN Capital, has reported a rise in Forex revenues for the fourth quarter of fiscal year 2021, that is, for the three months to end-September 2021.

Operating revenues derived from FX/CFD contracts increased $7.1 million, or 15% to $55.7 million in the three months ended September 30, 2021 compared to $48.6 million in the three months ended September 30, 2020, as a result of an incremental $8.9 million in FX/CFD contracts operating revenues in the Retail segment resulting from the acquisition of Gain, effective August 1, 2020, which was partially offset by lower FX operating revenues in StoneX’s Institutional FX prime brokerage business.

Total operating revenues increased $48.0 million, or 14%, to $390.1 million in the three months ended September 30, 2021 compared to $342.1 million in the three months ended September 30, 2020.

Quarterly Net Income for the period amounted to $7.3 million, whereas Annual Net Income amounted to $116.3 million.

Sean M. O’Connor, CEO of StoneX Group Inc., stated,

“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 that our core operating performance exceeded fiscal 2020, with adjusted net income up 24% and an adjusted ROE of 14.9%.”

StoneX acquired Gain, effective August 1, 2020. The results of the three months ended September 30, 2020 included a gain of $81.8 million related to the acquisition. The results of the three months ended June 30, 2021 include a gain of $3.3 million related to the acquisition, due to an adjustment to the final liabilities assumed, resulting in an adjustment from the initially determined values as of August 1, 2020.