NEW YORK (Bloomberg) — Bermuda-based MF Global Ltd., the futures and options broker, reported a first-quarter net loss of $32.8 million on lower trading volumes at exchanges worldwide.

The loss was equivalent to 27 cents a share, and compared with a profit of $14.4 million, or 12 cents, a year earlier, the company said. Excluding certain costs the company earned five cents a share. On that basis, MF Global was estimated to earn four cents, according to a Bloomberg survey of 11 analysts.

"After implementing extensive internal changes throughout our organisation to position MF Global for ongoing success, the next stage of our transition is to focus on driving growth and enhancing the profitability of our business," Bernard Dan, chief executive officer of MF Global, said in a statement yesterday.

Revenue fell 28 percent to $271.5 million from $374.7 million in the same period last year, the company said.