Beeks Financial Cloud FY revenues up 27%

22nd Jul 2024 11:29

(Sharecast News) - Cloud computing business Beeks Financial Cloud said on Monday that full-year revenues were predicted to be in line with consensus expectations.

Beeks Financial Cloud said it had delivered "significant double-digit growth" on the prior year, driven by a strong performance across its Private, Proximity and Exchange cloud offerings.

The AIM-listed group exited FY24 with approximately 18% growth in ACMRR in the year to £28.0m, while revenue for FY24 was expected to be approximately 27% higher than FY23, while underlying earnings were seen more than 27% higher and underlying pre-tax profit growth was forecast to be roughly 67% year-on-year.

Beeks said the conversion of its record pipeline remained "a core focus" for FY25 and stated the new financial year had "started promisingly".

Chief executive Gordon McArthur said: "We are delighted to have delivered another set of record financial results and a further year of significant growth. The increased traction of our products is testament to Beeks' growing reputation across the financial markets as technology provider of choice. We are confident in our ability to continue satisfying strong demand for our solutions and we remain focused on the conversion of our substantial pipeline."

As of 1125 BST, Beeks shares were down 2.55% at 194.90p.

Reporting by Iain Gilbert at Sharecast.com