Beeks Profit up by 22 Percent in 2019
- The Scottish cloud technology firm attributed its growth to an increase in client numbers and value

The Scottish technology provider, which is listed on the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the financial market and some of the most visible entities in the entire industry. Nearly every developed country boasts a domestic stock exchange, with many varying in importance and size.The largest stock exchanges in the world as of May 2020 include the New York Stock Exchange (NYSE), NASDAQ, Tokyo Stock Exchange, Hong Kong Stock Exchange, London Stock Exchange, EURONEXT, and Shenzen Stock Exchange. What Functions Do Stock Exchanges Perform?Stock exchanges have a variety of utility within the modern financial system. As its name suggests, a stock exchange is often the most important component of a stock market.Another crucial element of stock exchanges is the prevalence of initial public offerings (IPOs) of company stocks and bonds to investors. This is performed in both the primary market and subsequent trading the secondary market.Not any company or entity can be included on a stock exchange. To be able to trade a security on a certain exchange requires the listing of specific securities. Trading on an exchange is restricted to certified brokers who are members of the exchange. The traditional image of crowded trading floors has waned in recent years to include other various other trading venues.This includes electronic communication networks, alternative trading systems and "dark pools" which have ultimately seen the migration of trading activity away from traditional stock exchanges. A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the financial market and some of the most visible entities in the entire industry. Nearly every developed country boasts a domestic stock exchange, with many varying in importance and size.The largest stock exchanges in the world as of May 2020 include the New York Stock Exchange (NYSE), NASDAQ, Tokyo Stock Exchange, Hong Kong Stock Exchange, London Stock Exchange, EURONEXT, and Shenzen Stock Exchange. What Functions Do Stock Exchanges Perform?Stock exchanges have a variety of utility within the modern financial system. As its name suggests, a stock exchange is often the most important component of a stock market.Another crucial element of stock exchanges is the prevalence of initial public offerings (IPOs) of company stocks and bonds to investors. This is performed in both the primary market and subsequent trading the secondary market.Not any company or entity can be included on a stock exchange. To be able to trade a security on a certain exchange requires the listing of specific securities. Trading on an exchange is restricted to certified brokers who are members of the exchange. The traditional image of crowded trading floors has waned in recent years to include other various other trading venues.This includes electronic communication networks, alternative trading systems and "dark pools" which have ultimately seen the migration of trading activity away from traditional stock exchanges. Read this Term, saw an increase in revenue and profits when compared to 2018.
Last year, Beeks reported total revenue of £5.58 million ($6.88 million). This year that figure grew by 32 percent to £7.35 million ($9.06 million).
Profit growth was slightly less in percentage terms but still very positive.
The company's filings indicate that the 2019 fiscal year saw a gross profit of £3.65 million ($4.50 million) - a 22 percent on last year when the equivalent number was £2.98 million ($3.67 million).
More clients, more money
Beeks attributed its growth to new, higher-value clients.
By the end of this latest fiscal year, the cloud technology provider had 220 institutional clients, compared to 192 the prior year.
Those new clients are also spending more cash. The firm said that its average contract size for new institutional clients ballooned from £800/month to £2,200/month this year.
Aside from new clients, Beeks has also been expanding its business which, in turn, has brought in more revenue streams.
For instance, the company said that it is starting to see money flowing in from its two newest data centers - London InterXion and Singapore.
The tech firm also saw growth as a result of its partnership with BeQuant Exchange, a cryptocurrency firm based in London and Malta.
"Following an excellent close to the year, during which Beeks signed three Tier 1 clients, we have entered the new financial year in a strong position and enjoyed a good level of trading in the first two months of the year," said Beeks CEO Gordon McArthur.
"Our core business with mid-tier organisations continues to grow and we are now layering on more strategic engagements with larger organisations."
The Scottish technology provider, which is listed on the London Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the financial market and some of the most visible entities in the entire industry. Nearly every developed country boasts a domestic stock exchange, with many varying in importance and size.The largest stock exchanges in the world as of May 2020 include the New York Stock Exchange (NYSE), NASDAQ, Tokyo Stock Exchange, Hong Kong Stock Exchange, London Stock Exchange, EURONEXT, and Shenzen Stock Exchange. What Functions Do Stock Exchanges Perform?Stock exchanges have a variety of utility within the modern financial system. As its name suggests, a stock exchange is often the most important component of a stock market.Another crucial element of stock exchanges is the prevalence of initial public offerings (IPOs) of company stocks and bonds to investors. This is performed in both the primary market and subsequent trading the secondary market.Not any company or entity can be included on a stock exchange. To be able to trade a security on a certain exchange requires the listing of specific securities. Trading on an exchange is restricted to certified brokers who are members of the exchange. The traditional image of crowded trading floors has waned in recent years to include other various other trading venues.This includes electronic communication networks, alternative trading systems and "dark pools" which have ultimately seen the migration of trading activity away from traditional stock exchanges. A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the financial market and some of the most visible entities in the entire industry. Nearly every developed country boasts a domestic stock exchange, with many varying in importance and size.The largest stock exchanges in the world as of May 2020 include the New York Stock Exchange (NYSE), NASDAQ, Tokyo Stock Exchange, Hong Kong Stock Exchange, London Stock Exchange, EURONEXT, and Shenzen Stock Exchange. What Functions Do Stock Exchanges Perform?Stock exchanges have a variety of utility within the modern financial system. As its name suggests, a stock exchange is often the most important component of a stock market.Another crucial element of stock exchanges is the prevalence of initial public offerings (IPOs) of company stocks and bonds to investors. This is performed in both the primary market and subsequent trading the secondary market.Not any company or entity can be included on a stock exchange. To be able to trade a security on a certain exchange requires the listing of specific securities. Trading on an exchange is restricted to certified brokers who are members of the exchange. The traditional image of crowded trading floors has waned in recent years to include other various other trading venues.This includes electronic communication networks, alternative trading systems and "dark pools" which have ultimately seen the migration of trading activity away from traditional stock exchanges. Read this Term, saw an increase in revenue and profits when compared to 2018.
Last year, Beeks reported total revenue of £5.58 million ($6.88 million). This year that figure grew by 32 percent to £7.35 million ($9.06 million).
Profit growth was slightly less in percentage terms but still very positive.
The company's filings indicate that the 2019 fiscal year saw a gross profit of £3.65 million ($4.50 million) - a 22 percent on last year when the equivalent number was £2.98 million ($3.67 million).
More clients, more money
Beeks attributed its growth to new, higher-value clients.
By the end of this latest fiscal year, the cloud technology provider had 220 institutional clients, compared to 192 the prior year.
Those new clients are also spending more cash. The firm said that its average contract size for new institutional clients ballooned from £800/month to £2,200/month this year.
Aside from new clients, Beeks has also been expanding its business which, in turn, has brought in more revenue streams.
For instance, the company said that it is starting to see money flowing in from its two newest data centers - London InterXion and Singapore.
The tech firm also saw growth as a result of its partnership with BeQuant Exchange, a cryptocurrency firm based in London and Malta.
"Following an excellent close to the year, during which Beeks signed three Tier 1 clients, we have entered the new financial year in a strong position and enjoyed a good level of trading in the first two months of the year," said Beeks CEO Gordon McArthur.
"Our core business with mid-tier organisations continues to grow and we are now layering on more strategic engagements with larger organisations."