Beeks Financial Cloud Reports a Jump in Revenues

Beeks Financial Cloud Group plc (Beeks), a leading cloud computing, connectivity and analytics provider for financial services, announced its unaudited financial results for the six months ended 31 December 2020. The reported figures show that the company's revenues jumped 24 percent compared to the first half of 2020.

According to the press release, the revenues of the company for H2 of 2020 jumped to £5.29 million. This figure for H1 of 2020 was only £4.28 million. The underlying EBITDA jumped to £1.72 million, which is an 11 percent increase compared to H1 of 2020.

The official results revealed that the underlying profit before tax decreased 8 percent to £0.55 million following increased investment into the business. The company's period end net debt stood at £2.05 million. The proposed interim dividend reached 0.20 pence.

Gordon McArthur, CEO of Beeks Financial Cloud commented: "Current trading is positive and we have entered the second half of the year with a solid pipeline of opportunities, supported by a significantly expanded business, increased customer base, broadened product offering and continued growth of our existing Tier 1 accounts. We have seen increased demand for our offering during the second half of the year to date, giving us confidence in our ability to service a wide range of financial services organisations across different geographies. Whilst we continue to assess the ongoing impact of Covid-19 on our business and operations, we are confident that Beeks is poised for considerable growth within a rapidly developing market."