Year of progress

Beeks confident as market switches to cloud

Gordon McArthur
Gordon McArthur: well-positioned

Beeks Financial Cloud, the financial markets connectivity group based in Renfrewshire, said the last 12 months was another year of progress and it is confident of achieving results for FY24 in line with expectations.

The company secured landmark customers across its exchange and private cloud offerings while raising its profile across the global financial services industry.

Revenues for the 12 months to the end of June increased by 22% to £22.4m, and underlying EBITDA by 33% to £8.4m. Underlying profit before tax increased 13% to £2.33m (2022: £2.06m).

Gordon McArthur, CEO, said:  “With an established reputation and a track record of sustained growth, we are well-positioned to capitalise on the shift of the financial services sector to cloud computing and continue on our growth trajectory.  The deals signed to date and our exit ACMRR mean the Board is confident in achieving results for FY24 in line with its expectations. 

“We remain focused on converting our record pipeline of opportunities across our product offerings, and in particular the recently launched Exchange Cloud offering. The advanced nature of several of these discussions, including additional proof of concept implementations, provides confidence in our ability to provide growth acceleration in FY24.

“With high levels of contracted, recurring revenue, a unique proposition and growing international profile, we look to the future with continued confidence.”

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