14th Jul 2025 10:37
(Alliance News) - Beeks Financial Cloud Group PLC on Monday announced it signed Proximity Cloud contracts in the past month, while it expects to report an annual revenue jump.
The Glasgow-based cloud computing and connectivity provider for financial markets said June was a "record month" for the company with about USD10 million of contracts signed. Proximity Cloud is a client-owned trading environment, optimised for low latency trading conditions.
The contracts include four-to-five year contract wins and renewals for brokerage and fintech firms, it said. Beeks Financial expects revenue associated with the deals to be recognised in the financial year just gone and the new financial year 2026.
Further, the company expects to report double-digit growth for the financial year ended in late June, with a revenue jump of 25% to GBP35.5 million compared to GBP28.5 million in financial 2024.
Further, underlying earnings before interest, tax, depreciation and amortisation is anticipated to have climbed 29% to GBP13.8 million from GBP10.7 million. Underlying pretax profit is set to have surged 41% to GBP5.5 million from GBP3.9 million.
Chief Executive Officer Gordon McArthur said: "Consistent with previous years, we are yet again set to deliver significant double digit growth. The steady flow of new customer wins, as well as the significant expansion potential across our existing customer base, serve as a testament to the value of our product offerings, our ability to execute on sales, and our established position as a leading technology provider for financial markets. We enter FY26 with ongoing confidence in our ability to convert the strong pipeline of opportunities across our offerings."
Beeks Financial expects to release its annual results in early October.
Beeks Financial shares fell 0.1% to 210.00 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
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