Beeks: Cloud firm ‘delighted’ with ‘record’ financial results
Financial cloud computing firm Beeks hailed its delivery of another year of double-digit growth thanks to its “strong” performance across its private and exchange cloud divisions.
The AIM-listed firm, which is based in Renfrew, expects revenue to be 27 per cent higher in the year to June 30 than in the last financial year.
Beeks said in an unaudited trading update, delivering underlying earnings before investment, taxation, debt and amortisation of over 27 per cent.
The company expects a boost to profit before tax of approximately 67 per cent versus last year, thanks largely to what it called “significant wins”, including a cloud contract extension with the Johannesburg Stock Exchange, which it says could provide “strong references to other potential customers of its exchange cloud services.
It also won work with “one of the world’s largest banking groups”, and in February, the firm, which provides cloud computing and listed on the AIM market in 2017, inked a deal worth $3.6m (£2.79m) with a top investment manager.
Gordon McArthur, chief executive at Beeks, said: “We are delighted to have delivered another set of record financial results and a further year of significant growth. The increased traction of our products is testament to Beeks’ growing reputation across the financial markets as technology provider of choice.
“We are confident in our ability to continue satisfying strong demand for our solutions and we remain focused on the conversion of our substantial pipeline.”
Shareholders can expect the full, audited version of the firm’s 2024 results in early October, the firm said.