Beeks’ H1 FY25 Profit Jumps 31%, “Trading in Line with Expectations”

Beeks Financial Cloud Group (AIM: BKS) released a trading update today (Wednesday), expecting to close the first six months of the fiscal year 2025 with £15.8 million in revenue and £1.8 million in pre-tax profits. The company's accounting period runs from July to June.

A Strong Year for Beeks

The expected six-month revenue for the company, a cloud computing and connectivity provider for financial markets, jumped by 22 percent from the corresponding period of the previous fiscal year, while profits increased by 31 percent.

The trading update further highlighted that the numbers for H1 FY25 are in line with the board's expectations.

“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 of Beeks.

These figures came after the London-based company closed FY24 with revenue 27 percent higher than the previous year.

Furthermore, the company achieved a positive free cash flow position after working capital movements. At the end of December 2024, its unaudited net cash stood at £6.6 million, the same as at the end of FY24. It also received a delayed post-payment of £1.2 million in early January.

Demand for Cloud Services Remains High

Beeks also pointed out that the strong momentum for its Exchange Cloud service continued. It secured a further extension to the Johannesburg Stock Exchange contract and received approval for a contract with “one of the largest exchanges globally.” Further, after the accounting period, it secured a new deal with Grupo Bolsa Mexicana de Valores, the second-largest exchange in Latin America.

“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,” McArthur added.