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Beeks ‘delivering on promises’ amid strong sales pipeline

Gordon McArthur

Gordon McArthur: ‘We look to the future with confidence’

Beeks Financial Cloud Group, a cloud computing and connectivity provider for financial markets, said it has begun the new financial year in a strong position and enjoyed a good level of trading in the first two months.

The company, which floated in 2017 and has just relocated from Linwood to the nearby Hillington Industrial Park on the edge of Glasgow, reported a 27% rise in underlying EBITDA for the year to the end of June. Profit before tax was £1.04m (2018: £0.75m).

It said it was seeing a “considerably increased sales pipeline”.

Gordon McArthur, CEO of Beeks Financial Cloud, commented: “Following an excellent close to the year, during which Beeks signed three Tier 1 clients, we have entered the new financial year in a strong position and enjoyed a good level of trading in the first two months of the year.

“Our core business with mid-tier organisations continues to grow and we are now layering on more strategic engagements with larger organisations.

“Overall, the business is delivering on its early promise, using the enhanced profile and strengthened balance sheet resulting from the IPO in 2017 to capitalise on the growth in demand for Infrastructure as a Service offerings within financial markets.

“We are confident the quality of our service will see our client list continue to grow in the year ahead, and we look to the future with confidence.”

Speaking to Daily Business, he said the company was in discussion about expansion into Asia and the US and said the Brexit issue was not something that was testing any of the firm’s clients.

“We have not had one client from 250 who has expressed any intention of moving their business because of it,” he said.

He also said that he has had no difficulties hiring skilled staff and sees no evidence of a shortage of people.

Financial highlights

·       Underlying profit before tax** increased 11% to £1.32m (2018: £1.19m)

Operational Highlights

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