Beeks Financial Cloud Group
plc
("Beeks" or the
"Company")
Trading Update and Notice of
Results
Trading in line with
expectations with building Exchange Cloud
momentum
19
February 2025 - Beeks Financial Cloud Group plc (AIM: BKS), a cloud computing
and connectivity provider for financial markets, provides an update on trading
for the six months ended 31 December 2024 (H1 FY25).
Trading in H1 FY25 has been in line
with Board expectations, with revenues expected to increase 22% to
£15.8m (H1 2024 £13.0m) and underlying Profit before tax expected
to increase 31% to £1.8m (H1 2024 £1.4m).
Beeks has achieved a positive free
cash flow position in the period after working capital movements,
with unaudited net cash of £6.6m at 31 December 2024 (June 2024 net
cash of £6.6m), with the company having received a delayed post
period end payment of £1.2m in early January.
Strong Exchange Cloud momentum has
continued. In addition to the approval of the contract with one of
the largest exchanges globally, the Group was pleased to secure a
further extension to the Johannesburg Stock Exchange contract and,
post-period end, a major new win with Grupo Bolsa Mexicana de
Valores, the second-largest exchange in Latin America.
The Board continues to be confident
in achieving results for FY25 in line with its expectations,
underpinned by a robust business model and increasing Exchange
Cloud momentum.
Notice of Results and Investor Presentation
Beeks will issue its results for the
six months ended 31 December 2024 on 17 March 2025. The Company
will provide a live presentation relating to the HY25 Results
on 19 March 2025, 13:00 GMT.
The presentation is open to all
existing and potential shareholders. Questions can be
submitted pre-event via your Investor Meet Company dashboard up
until 18 March 2025, 09:00 GMT, or at any time during the live
presentation.
Investors can sign up to Investor
Meet Company for free and add to meet Beeks via:
https://www.investormeetcompany.com/beeks-financial-cloud-group-plc/register-investor
Investors who already
follow Beeks on the Investor Meet Company platform will
automatically be invited.
Gordon McArthur, CEO at Beeks, commented:
"We have
continued to deliver strong growth in the first half and prove our
ability to secure deals with the largest exchanges globally. With a
robust business model and an established reputation as a technology
provider to financial markets, we are confident in converting our
strong pipeline of additional Exchange Cloud opportunities and
achieving a full year financial performance in line with the
Board's expectations."
For
further information please contact:
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Beeks Financial Cloud Group plc
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Gordon McArthur, CEO
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via Alma
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Fraser McDonald, CFO
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Canaccord Genuity
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+44 (0)20 7523 8000
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Adam James / George
Grainger
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Alma Strategic Communications
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+44(0)20 3405 0205
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Caroline Forde / Joe Pederzolli /
Emma Thompson
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About Beeks
Cloud computing is crucial to
Capital Markets and finance.
Beeks Group is a leading managed
cloud provider exclusively within this fast-moving sector. Our
Infrastructure-as-a-Service model is optimised for low-latency
private cloud compute, connectivity and analytics, providing the
flexibility to deploy and connect to exchanges, trading venues and
public cloud for a true hybrid cloud experience.
ISO 27001 certified, we provide
world-class security aligned to global security
requirements.
Founded in 2011, Beeks Group is
listed on the London Stock Exchange (LSE: BKS) and has enjoyed
continued growth each year. Beeks Group now employs over 100 team
members across the globe with the majority based at our Renfrew
HQ.
Find out more at
beeksgroup.com
