Half-year revenues and profits have climbed significantly at Beeks Financial Cloud Group plc.
The cloud computing and connectivity provider for financial markets reported a 22% increase in revenues to £15.8m for the six months ended 31st December 2024 (H1 FY25), compared to H1 FY24.
Underlying profit before tax is expected to increase 31% to £1.8m.
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, the same as in June 2024.
The company received a delayed post period end payment of £1.2m in early January.
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Beeks said that in addition to the approval of a contract with one of the world’s largest financial exchanges, the group secured a further extension to its contract with the Johannesburg Stock Exchange.
It also secured a major new win with Grupo Bolsa Mexicana de Valores, the second-largest exchange in Latin America.
“We have continued to deliver strong growth in the first half and prove our ability to secure deals with the largest exchanges globally,” said Gordon McArthur, CEO.
“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.”