Rising demand boosts Beeks profits and revenue

Gordon McArthur

Gordon McArthur: business has grown considerably

Markets connectivity firm Beeks Financial Cloud said underlying profit before tax for the half year rose 46% to £0.60m (H1 2019: £0.41m) following increasing demand for its services.

Revenues for the six months to the end of December increased by 23% to £4.29m (H1 2019: £3.50m) and the Hillington-based company declared a standstill interim dividend of 0.20p (H1 2019: 0.20p).

Two data centres opened in New York, with a further three in London, Paris and Singapore after the reporting period in January.

Gordon McArthur, CEO said: “Momentum has continued into the second half of the year.

“The business has grown considerably over the last six months, in terms of offering and customer base but also in addressable market, due to the successes we have had in new areas of the financial services market. 

“These factors combined with the continued growth in our committed recurring revenues and size of our new business pipeline, provide us with confidence in our continued success.”

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