Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Started: Troajan, 23 Mar 2024 22:12
Last post: Troajan, 23 Mar 2024 22:12
Started: fastduckharry, 14 Mar 2024 10:39
Last post: fastduckharry, 14 Mar 2024 10:39
Not much of a surprise as The CEO said at the recent online investor meeting that JSE were very happy. The backup system would be a bonus He also mentioned that JSE were in regular contact with other exchanges. Didn't make any notes but believe he mentioned Hong Kong, Australia and Singapore. Beeks are onto a winner with Exchange Cloud, quite likely the next contract comes from one of the above, whilst western exchanges and regulators dither.
Started: fastduckharry, 5 Mar 2024 09:35
Last post: fastduckharry, 5 Mar 2024 09:35
Very bullish report from Beeks this morning. Back to profitability, debt down and investment in improving platforms for clients including reducing costs for Beeks. Also another Proximity Cloud contract from a major international Tier 1 bank.
2024 is a significant year with 25% underlying growth. The CEO now sees greater than expected growth for 2025.
The greatest growth driver long term is likely to be Exchange Cloud. Three contracts already but regulatory approval is slowing progress. The Johannesburg exchange contract is in full operation and now effectively, a proof of concept trial for other exchanges and importantly regulators.
Started: TaltBong, 22 Feb 2024 23:36
Last post: TaltBong, 22 Feb 2024 23:36
Superb interview with Gordon McArthur CEO/Founder at https://shows.acast.com/paulscottsmallcaps/episodes/beeks-financial-cloud-bks-paul-scott-interviews-ceofounder-g
Started: TaltBong, 14 Feb 2024 07:46
Last post: TaltBong, 14 Feb 2024 07:46
Nice commentary on BKS by Paul Scott on his week-end podcast. Listen from 8:07mins although all is well worth a listen.
https://podcasts.apple.com/gb/podcast/small-caps-podcast-with-paul-scott/id1642339156
Not to mention exercise of options last week . Unbelievable! Actually it’s how this stock market works
Large buying yesterday ... rns today.
Started: fastduckharry, 24 Jul 2023 10:21
Last post: ali1947fish, 5 Feb 2024 14:16
Which news please- no rns
Good news this morning. Despite delays with Exchange Cloud the company is ticking over.
With regard to NYSE, it seems that no movement likely before next year, most likely after the Johannesburg Stock Exchange contract has been installed and in operation. In my view, it could well be that permission from the authorities is not yet given. Presumably they want to see the successful operation of Exchange Cloud first, before giving approval. The current low level of the share price would also suggest that.
Started: fastduckharry, 19 Jun 2023 07:57
Last post: fastduckharry, 19 Jun 2023 07:57
This contract secured with partner IPC. That's two of the top twenty exchanges secured. A slow regulatory process to actually getting revenues. With the message that installation can be done with existing stock, it suggests that this will be quicker to get into operation than the NYSE contract
Started: fastduckharry, 21 Feb 2023 11:44
Last post: fastduckharry, 8 Mar 2023 14:28
There is something I purposely left out of my original take on the InvestorMeet presentation. Asked about the likely size of an Exchange Cloud contract, Gordon McArthur said that around 20 cabinets is possible. With the going rate for a cabinet @1m could well be 20m. Now I'm not sure whether that is dollars or sterling and per annum or perhaps over three years. Might have missed something that he said but have been too busy to watch again. My previous own estimation of a major exchange contract is a minimum of $10m per annum. Either way we are still talking pretty large numbers. Which are most likely going to be fluid in any case. Thereby allowing the exchanges involved, to add new clients in response to any demand. Gordon McArthur said that the potential clients number around 800-1000 for each exchange. He accepts that many will want to do their own thing (for which Beeks can offer Proximity Cloud).
Beeks are out in front on their own here, in terms of product offering with Exchange Cloud. Getting this right, should prove to be extremely rewarding.
A few notes on yesterday's InvestorMeet presentation.
Video as well as audio again as in October. Gordon McArthur, CEO and Fraser McDonald, CFO, were representing the company. Both appeared to be in good spirits, in contrast to the tension that was apparent at the previous presentation. With what is at stake for Beeks, that was understandable. Gordon McArthur, in particular, has had a plan, for where he wanted to take Beeks and now success is seemingly looming over the horizon.
Opened with a slideshow explaining the evolution of the Beeks' offering from Public Cloud to Exchange Cloud.
This was followed up by Fraser McDonald going through last year's numbers in yet another year of decent growth.
Then the Q & A session.
What did we learn from this?
No probing question on the IGN Exchange Cloud contract, so nothing new learned there. On reflection, it is likely that IGN might well consider such details as commercially sensitive. Which would mean the only indication of the size of this contract, could well be the increasing level of revenues.
On the subject of which, £25m looks likely for the full year and £30m plus next.
Exchange Cloud, is a slow process not just communication with IT departments. Discussions need to be held with numerous parts within an exchange company's organization. Mainly to protect their clients but also to protect themselves from the regulators.
Some of the discussions with Exchanges are being done jointly with IPC, who are a regular partner with Beeks.
Of the two Exchange Cloud contracts in negotiation, Gordon McArthur stated that it had been hoped to announce one with the results. Not to be, (but can't be that far away?) Incidentally, the negotiations are with a major exchange and a regional exchange. (Likely that the latter is closer to agreement, imho.)
Data Center charges went up in January, Beeks have increased their prices from March 1.
We had already been told that the staff number was now 106. Also learned that the software development team will not be getting any larger. Therefore their costs as a proportion of revenues are set to decline.
Gordon McArthur was reticent at first about giving an indication of likely Exchange Cloud contracts. He did concede maybe five over the next two to three years. Had already said that Beeks were in contact with many interested exchanges. Also that once established, it will be easier to get new exchanges to sign up.
On closing he said "We look forward to a more exciting growth trajectory going forward." (Take note, that can be interpreted as being far greater than a pretty impressive 35%).
No market reaction to the presentation. Though I was pleased with it and have topped up with a few more.
No surprises today. Costs are rising due to increased investment. We have been told about Exchange Cloud contract negotiations with two further material exchange clients. That would suggest that the IGN period of exclusivity will be ending this year.
The Investor Presentation will be this Wednesday @ 12pm. With Beeks so close to what could prove to be the start of a major upward shift in revenues and profits, has to be worth sparing the time for. InvestorMeet do offer a recording post presentation.
Would hope to see revenue growth, perhaps news of a contract. Maybe some news of the IGN (ICE) Exchange Cloud contract, even if it is just a timetable. We have to bear in mind that Beeks are not doing the selling with this white label job, it is down to IGN. In my mind am looking at June when IGN and Beeks agree on the size of the initial installation. Would presume that some spare capacity will be included. With the Exchange Cloud system assembled, installed and in operation by the year end. Margins are going to be lower, therefore critical that Beeks get their pricing right. If this is a success and IGN do indeed seek a global roll out, it will be a massive game changer for Beeks. Even before considering the potential demand from other exchanges.
Had a look at the Beeks' website yesterday, they are looking to hire new senior talent, to service their ever growing list of clients. Not a sign of a stalling business.
Started: Scoobydoo321, 3 Jan 2023 15:58
Last post: fastduckharry, 26 Jan 2023 11:59
Perhaps ICE have advised how many clients they have already signed up to their pending Exchange Cloud installation in NJ. Beeks have already said 12-18 months before revenues start for Exchange Cloud. This one is likely to be very large, enough to take 18 months. Once running, revenues should comfortably dwarf Beeks' existing US revenues in total.
Tipped by Regency Capital
10% rise today. Anyone have a clue why ?
The market doesn't seem impressed. Why is that?
Not much has gone wrong here.
Why the sells?
Started: fastduckharry, 13 Nov 2022 19:20
Last post: fastduckharry, 13 Nov 2022 19:20
Taken a while to write my take, on what was said at the InvestorMeet presentation on Oct 13. This time it took place with video as well as audio. Beeks were represented by Gordon McArthur, CEO and Fraser McDonald, CFO.
The event took place with commentary to a slideshow covering the events and numbers for the last financial year. As usual the most interesting part was the Q & A session that followed. The snippets below were said to random questions but have been sorted.
In response to a question regarding staff numbers, the CEO responded with "just over 100". The year end number was 89, which reflects the continuing growth of Beeks. As Gordon said "23 is the year of sales execution". In response to another question, he didn't hold back when said, "would have liked one or two more contracts".
With regard to a question on anything new, we were told that there is "no new product development on the horizon. We will be investing to improve existing products."
On the subject of inflation/energy costs, we were informed that, Beeks "can pass on power costs to monthly charged customers. Proximity customers supply their own energy."
There would appear to be a question mark with passing on increasing costs to some Private Cloud customers. With Fraser McDonald on a question regarding doing things better, letting slip the remark "writing good contracts that will allow price increases."
Regarding the recent release of Exchange Cloud, Gordon said "high hopes going forward". There were no numbers given with the announcement of the ICE (IGN) contract advised by rns on September 12. It was revealed in this session about Exchange Cloud, "about 12-18 months to billing". Which suggests they could prove to be very large, indeed potentially Beeks largest contracts to date.
We also learnt "that ICE have been incentivised to promote Beeks products". I would assume that means commission from selling Proximity Cloud to their own clients, that want to expand and develop their cloud usage. No further information available "ICE have a period of exclusivity, can't disclose details apart from already issued."
All food for thought, it would appear that Exchange Cloud could have an impact on costs in year 23 but no revenues. Therefore one or two other contracts would be welcome short-term. We will have to wait to get an idea of the potential value of this first Exchange Contract. The secrecy surrounding it, does suggest that very substantial is quite likely.
The impact of contracts that don't allow price increases could have an adverse on margins in the current financial year. Which might mean that year-end 24 could be the start of increasing profitability. Who knows, perhaps ICE have somebody in an office somewhere in their empire, crunching numbers. The only answer that makes sense is to acquire Beeks. Giving Mr Gordon McArthur an offer he can't refuse...
Started: fastduckharry, 12 Sep 2022 09:29
Last post: fastduckharry, 12 Sep 2022 09:29
ICE Global Network Inc named as first Exchange Cloud customer
Following the announcement on 13 June 2022 of the launch and first customer for Exchange Cloud, Beeks can now confirm the customer is ICE Global Network. ICE Global Network ("IGN") has signed a multi-year deal with a period of exclusivity, with the collaboration enabling the customer to provide their client base with compute and analytics, on demand.
This could be huge, exchanges across the globe dealing with futures, energy, agriculture etc. No wonder Beeks have granted IGN (ICE) a period of exclusivity.
https://www.theice.com/about/exchanges-clearing
Exchange Cloud is a multi-home, fully configured and pre-installed physical trading environment that has been fully optimised for global Exchanges to offer cloud solutions to their end users. The successful collaboration between ICE Global Network and Beeks Group's Exchange Cloud provides a pre-integrated market-leading solution with security at the forefront.
IGN can now deliver additional value to their clients with Beeks Group's Exchange Cloud infrastructure, compute and analytics offering private cloud services at their NY4 data centre in Secaucus, New Jersey with plans to further expand the service in IGN data centres around the world.
Started: fastduckharry, 25 Jul 2022 15:10
Last post: fastduckharry, 25 Jul 2022 15:10
A news item on the Beeks website from April 14, I missed. A bespoke, (multi-tenanted?), private cloud system for an outstanding UK payments technology infrastructure provider.
https://beeksgroup.com/news/form3-appoints-beeks-to-underpin-their-payments-technology-platform/
About Form3
Form3 design, build and run the technology that powers the future of payments. Founded In 2016, Form3 set out to revolutionize the world of payment processing and disrupt the traditional payment infrastructure model, with an always on, cloud-native, Payments-as-a-Service platform.
Today, Form3 is trusted by some of the UK and Europe’s biggest Tier1 banks and fastest-growing fintechs to handle their critical payments architecture. Form3 was named Best Cloud Payments Platform 2021 by Paytech and Fintech Finance, Most Influential Fintech Company in 2021 by The Financial Technologist and ranked in the Top European Fintechs to Watch by Sifted 2020.
There could well be the possibility of future Beeks collaboration with Form3. As this company is expanding into the US payments market. They have also advised, on Jul 7, that they been invited by the US Federal Reserve to participate in the pilot program for FedNow, which launches next year.
Beeks are likely to issue an update, on their Full Year, within the next few weeks.
Started: fastduckharry, 13 Jun 2022 10:14
Last post: fastduckharry, 13 Jun 2022 10:14
Following the successful completion of the significantly oversubscribed fundraise in April 2022 to accelerate development of Beeks' offering, Exchange Cloud is now formally launched,
with a major equities exchange already under contract to deploy later this year.
Additional proof of concept implementations and discussions are underway with potential customers.
Gordon McArthur, CEO of Beeks Financial Cloud commented:
"Our product development has always been driven by customer demand and we created Exchange Cloud specifically to meet the needs of top exchanges around the world. During early-stage Proximity Cloud discussions with some of the top ten financial exchanges in the world, we identified a demand for a secure, multi-client cloud environment which they could offer to their customers. We believe the end-user compute market within exchange data centres to be considerable, and there to be no comparable offering currently in the market.
"We are delighted by the early win of this top exchange, which will contribute towards underpinning our FY23 expectations, but more significantly we believe the opportunity for Exchange Cloud to be potentially transformative for our business."
Early good news, if not the best of days market-wise. A contract already agreed for deployment later this year. Beeks' level of business, now means that these contracts individually do not require a formal announcement. The company is in discussion with all the major exchanges offering a product that is currently unique. Should the share price fall short term, I would regard this as an opportunity rather than a concern.
Started: fastduckharry, 24 Mar 2022 13:12
Last post: fastduckharry, 28 Apr 2022 11:26
Another titbit of information from the InvestorMeet presentation was that Beeks will be expanding their coverage of global data centres in response to demand.
A client requires data services from Washington DC. Also partner IPC have requested data centre services from Amsterdam, Geneva, Zurich and Mexico, which are expected to be in place sometime during the second half of this year. In my view this is likely to lead to an expansion of current contracts or possibly new ones being signed.
Another data centre mentioned as a future possibility is Johannesburg. Which suggests that there might be initial contact from an existing or a potential new client regarding this.
Most important points - the large Tier 1 contracts are becoming a cash drain, as it takes a year to return the initial investment with the client. Various options being considered, including asking clients for a year in advance, raising credit finance or possibly an equity raise. Get the impression that other options will be considered before a share placing.
Gordon McArthur still seems very optimistic for the future. On being asked about the share price, he doesn't mention where he thinks where BKS could rise to, other than many multiples. The Beeks team are working hard to deliver. They are anticipating a few more contracts over the coming months. Revenues for the next final year expected to be around £25m. New contracts take 12-16 weeks to set up.
Exchange Cloud. A special version of Proximity Cloud with multiple users set up for exchanges to contract and host. They will then be able to lease out a partitioned space on the system for their own clients' use. Beeks are already in discussion with a number of exchanges. Designing the system to cater for their requirements. Product could be available in two months. Beeks believe that orders will soon follow as this product would be an earner for the exchanges as well. Also with the kit set up on site, new clients could be added very quickly.
An upgrade to single user Proximity Cloud under development for the year end, is likely to mark the end of the current spike in product development expenditure, as it then returns to a more normal level.
Heard nothing today, that would deter investment in BKS. In fact the future, once getting over the need for some necessary capital investment, looks brighter than imagined last night.
Started: piworld, 8 Apr 2022 11:06
Last post: 29palms, 11 Apr 2022 13:03
SP showing 9 tick ups so far today after £15m fund raise.
Coffee Can share for sure.
Paul Scott ‘slams’ Beeks Financial Cloud (BKS) in the latest PIWORLD/Stockopedia StockSlam at 45m17s
Watch the video here: https://www.piworld.co.uk/education-videos/stockopedia-piworld-stockslam-april-2022/
Or listen to the podcast here: https://piworld.podbean.com/e/stockopediapiworld-stockslam-april-2022/
Started: fastduckharry, 24 Mar 2022 17:13
Last post: fastduckharry, 5 Apr 2022 10:13
Very good news. Firstly am pleased for Gordon McArthur and Beeks. A lot of work and clear thinking has been done to put them in the tremendous position that they are in today. He is receiving the rewards of his success, which hopefully will be shared by the many shareholders that have put their faith in him.
With regard to the placing, fantastic for it to be oversubscribed. It has given the opportunity for new investors to get on board at a reasonable price but also fair to existing shareholders. The placing still has to be voted through. Though in reality that should be a formality.
The size of the placing took me by surprise. However the planning is far thinking. There is a large pipeline of potential contracts. The money will be there to fund the work required. Significantly the materials to assemble these Cloud units is going to be stocked in sufficient quantities to allay worries over any supply chain issues.
Not too fussed about the share price, that will look after itself over the next few years. Have no intention of selling mine for a long while.
Good luck to all shareholders.
The £2.20 target price that analysts at Canaccord Genuity put on the sp back on 21st March is on the horizon after this oversubscribed cash raise @ £1.65.
A "Coffee Can" share for sure.
Yeah, has to be a good sign. Let’s see what we get.
Looking like Primary Bid offer will close early.
Good sign IMO
apologies for omitted word:
by saying I can't tell you
Started: fastduckharry, 24 Mar 2022 08:16
Last post: fastduckharry, 24 Mar 2022 09:46
I've topped up again this morning. Don't want to put too much pressure on Beeks, though they must surely realise that this moment is the opportunity to capitalize on their product advantage. Likewise now is the time for the private investor to invest for the longterm.
A reminder:
The Company will provide a live presentation relating to the results via the Investor Meet Company platform on 24 March 2022 at 12:00pm GMT.
The presentation is open to all existing and potential shareholders and registration can be completed via the following link:
https://www.investormeetcompany.com/beeks-financial-cloud-group-plc/register-investor
Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.
I imagine Paul Scott at Stockopedia has the same "Coffee Can" sentiment.
"another very encouraging contract win. It’s becoming increasingly obvious that BKS has passed a tipping point, where its cloud-based connection services for financial markets are being more rapidly taken up by big clients, globally.
Therefore an exciting future is on the horizon, as those recurring revenues build.
I reviewed Beeks interim results earlier this week. Although the numbers at this stage are barely above breakeven, that’s missing the point. It’s the very rapid organic growth, of recurring revenues, which is laying the groundwork for a much bigger, and potentially highly profitable company in future.
This is generally a bad time to be investing in growth companies, so there is that strong market headwind, but when growth is this strong, with big contracts rolling in faster than ever before, it’s time to sit up and take notice.
For that reason, and despite it being difficult to value, BKS is fast becoming a high, maybe even highest, conviction holding for me. I need to just ignore market sentiment, and buy more (as a long-term hold).
I think this is probably the best reasonably-priced, high organic growth company on the UK market right now"
Coffee Can share for sure
More good news today. We could well be seeing annual recurring revenues topping £20m in FY23.
24 March 2022 - Beeks Financial Cloud Group Plc (AIM: BKS), a cloud computing and connectivity provider for financial markets, is pleased to announce the signing of a multi-year Private Cloud contract. The contract, worth £4.4 million over five years, is for a new European Tier 1 client, and was secured via a partner.
The latest contract is testament to the strong sales momentum across the Group, now successfully targeting the world's largest financial services organisations and exchanges. Both the Private Cloud and Proximity Cloud Offerings have significantly contributed to Beeks' record third quarter of trading, with c. $15 million in total contracted value during the period, representing a three-fold uplift on our previous record quarter of Q1 FY22.
Gordon McArthur, CEO of Beeks Financial Cloud commented:
"Successfully securing a further contract of such significance reinforces our belief that the prospects for Beeks have never been stronger, as financial services organisations accelerate their cloud strategies. Alongside other recent wins we have announced, this latest contract contributes towards underpinning our FY23 expectations. A substantial pipeline continues to build across our Private Cloud and Proximity Cloud offerings, and we are confident in our ability to further increase our market share."
Started: fastduckharry, 21 Mar 2022 09:14
Last post: fastduckharry, 22 Mar 2022 17:37
I notice that the buying price parked @147p max today. The last time it was parked, when @165p , it was if on a hill with the handbrake off. Beeks are geared up, expecting to receive more contracts and are working hard to achieve that. Therefore not going to worry excessively about short-term movement in the sp. The investor presentation could give an indication of how confident Beeks are. Though with regard to details they won't be revealing any specifics.
The Canaccord Genuity is close to my own estimations going forward. though am tempered by the realization that the markets are looking for profit and currently reducing valuations if there is any doubt going forward. That doesn't mean that sentiment won't have changed again by the end of 2023.
Analysts at Canaccord Genuity nudged up their target price on software and services firm Beeks Financial Cloud from 210.0p to 220.0p on Monday after the group reported interim sales that beat expectations.
Canaccord Genuity, which reiterated its 'buy' rating on the stock, said Beeks' first-half sales were stronger than it had expected, while adjusted underlying earnings were in line.
The Canadian bank stated Beeks' outlook statement was positive and that it had upgraded full-year 2022-23 sales estimates in February after its first three Prox Cloud contracts were announced.
"With the new Prox Cloud offering gaining traction, combined with the underlying increase in Private Cloud offering uptake from tier 1 clients, we feel confident that sales growth can exceed 35% FY21/24 and margins increase from FY22est by c100bps pa in FY23 and again in FY24," said Canaccord. "We further increase our sales forecasts for FY22/23 with no change to adj EBIT and introduce FY24."
Increased investment mostly on product development and installation has dented profits short term. We will get a better idea of Beeks future trajectory in September, with the company in plenty of discussions regarding new contracts with clients. Current contracts are going to bring in over £17m on a annual basis. This number will increase with any additional contracts which Beeks are ready to land. An increase in the use of an agreed loan facility is facilitating this expansion without further placing of new shares. Thereby avoiding dilution of the sharebase. The benefits of which, will be seen in future years earnings.
There would also have been costs associated with the move but Beeks are now in a facility that is three times the size of the old one. The successful expansion of this company is well and truly underway.
Exchange Cloud is a new product being developed in response to feedback from some clients and more importantly prospective new clients. Will hope to glean some more information from this week's investor presentation.
Started: fastduckharry, 22 Feb 2022 08:45
Last post: 29palms, 18 Mar 2022 16:27
300k+ shares bought today with Interims to 31 Dec out on Monday 21st March and Investor Presentation on 24th March
https://www.investormeetcompany.com/beeks-financial-cloud-group-plc/register-investor.
Should be very interesting.
Three large contracts in three weeks is really encouraging. No coincidence that these happen to coincide with the Riverside Way move. They have more room to work in now. Presumably these contracts will require assembly work and testing before being shipped out for installation.
The partner could well be, not definitely, IPC. As Beeks have a number of existing contracts through them. Handy though, as this new contract indicates that the sales force for Proximity Cloud is not solely restricted to Beeks own staff.
With regard to the share price, agree pre-Sept 21, the recent news would be driving it well over £2. AIM indices are down over 20% since then. Today the market maker has had a decent volume of buys but has parked the price at 165p to buy. Thoughts of what Russia might do next, probably making that easy. Just need to be patient. A couple more of these contracts by September, would get the sp moving, regardless of the market, in calculation of forward earnings for 2023. An influential tip would do it earlier but not required for long-term holders.
Good news just keeps on flowing with BKS
In normal markets this would be trading north of £2
Coffee Can share for sure!!
Through a partner for a North American bank.
https://www.lse.co.uk/rns/BKS/2-million-proximity-cloud-win-mm2ux8nep0nm9kc.html
For me the best part of the rns is what Beeks CEO Gordon McArthur said:
" I am confident the investment we are making in additional features to Proximity Cloud, will see our pipeline continue to increase."
This means Beeks will be avoiding sitting back, thinking the job is done and customers will be forever knocking at their door. They realise that investing in their competitive offering is the best way to keep it competitive. Good news is always welcome on a rocky period for the markets. Thank you all at Beeks.
Started: fastduckharry, 8 Feb 2022 08:46
Last post: fastduckharry, 8 Feb 2022 18:19
Last year's Interim Results came out on March 8. Therefore don't think we will have to wait long for a further update. Also quite likely to be an Investor Presentation. What we do know is that the company has a growing record pipeline. Gordon McArthur says "we are confident in continued growth". Hopefully we will have the chance to learn of Beeks' expansion plans, now that the move to larger premises has taken place.
Paul Scott on Stockopedia today - “another contract win. This niche IT services company seems to be making excellent progress. It's won a £2.5m, 3 year contract extension with an existing client, to go into a new territory. Hence a record quarter for contract signings. When you look at the potential size of its markets, globally, this company could be a multibagger I reckon. BUT, it has to be seen as high risk, due to the market cap already looking expensive - worth it, for the growth potential, in my opinion”
Good news such as this, deserves to have its own headlines:
08 February 2022 - Beeks Financial Cloud Group Plc (AIM: BKS), a cloud computing and connectivity provider for financial markets, is pleased to announce the signing of a £2.5 million contract extension over three years with an existing Tier 1 customer. The contract is for the provision of private cloud services into an additional geography.
This follows the announcement last week of a $2.2m contract for the Group's Proximity Cloud, bringing the Total Contract Value of deals signed in the current quarter to over $6m - a record for the Group and evidence of the momentum behind Beek's specialist cloud offerings for financial markets.
Gordon McArthur, CEO of Beeks Financial Cloud commented:
"We continue to secure notable contracts with some of the world's largest players in the financial services industry, demonstrating our growing reputation and the quality of our offerings. This latest contract contributes towards underpinning our FY23 expectations. With growing levels of committed future revenues and a record pipeline, we are confident in continued growth."
Started: fastduckharry, 3 Feb 2022 13:19
Last post: fastduckharry, 8 Feb 2022 08:43
Definitely a stock to buy. Great to learn that the move has been accomplished, fairly smoothly it would seem. This is an excellent start, in a very exciting new chapter for the company.
More good news for Beeks in the niche market they are working in.
A stock to "buy and forget"
Nice surprise yesterday, another Tier 1 client, hopefully there will be more to come. The money to be invested in the growing sales pipeline. Which will mean more staff, filling the new facilities, due to be occupied soon. Also will be pleased to learn of Proximity Cloud upgrades. The increased investment likely to slow bottom line growth but create a sound platform for very solid growth in the years to come.
Gordon McArthur is still very bullish on Beeks' future prospects including;
"The prospects for Beeks have never been more promising and with a growing pipeline we are excited by the opportunity ahead."
Happy to be holding and will look to add when the sp looks attractive.
DYOR
Started: fastduckharry, 17 Dec 2021 11:09
Last post: fastduckharry, 3 Feb 2022 12:50
Never come across the expression "coffee tin" used with shares before.
Fantastic TU and Contract win in a niche market.
Definitely a "Coffee Tin" share.
The company I was referring to was Arcontec (ARC). Their sp has halved since year highs on the back of that news. The fall almost certainly overdone. Though they are serving the same kind of clients, I don't think they are in direct competition with Beeks. In fact am wondering if Beeks were seeking to expand in future, that Arcontec might well be an ideal acquisition.
Unlikely we will hear from Beeks before March. The move to the larger premises is scheduled for February. Omicron variant a potential worry regarding international travel, though vaccines and previous infections do appear to offer protection.
Read a trading update last month from a financial information supplier, they were losing two major clients. One of them opting for a comprehensive package from another supplier, instead of renewal when their contract ends. Can't say that this has anything to do with Beeks going forwards, which is why I did not keep the actual rns. Am determined to hold onto my shares, though not suggesting anybody should buy on my say so. Somebody with better knowledge than I, of these businesses will probably know of which company I'm referring to. That said they might not be able to enlighten further for obvious reasons.
DYOR as always before making any financial decision
Started: fastduckharry, 17 Nov 2021 08:50
Last post: fastduckharry, 23 Nov 2021 12:01
Likely our buyer is back today as the BKS sp dropped to attractive levels.
The future of this business hasn't changed.
Fraser McDonald CFO, has sold the shares he was recently awarded under a company share scheme. He probably needed the money. As the share scheme has around a million options left, it is likely, he will be receiving some more.
More significant is the purchase of 17,950 shares @194p by Non Exec Director, William Meldrum. He already holds shares and was not obliged to buy. Reading his background on the Beeks' Governance page would suggest his expertise is in Data. So he should have more than an inkling, of the direction Beeks are headed.
Started: fastduckharry, 12 Nov 2021 10:19
Last post: fastduckharry, 12 Nov 2021 17:23
A decent sized block of shares sold after hours. The mm have given themselves some wriggle room with a lower selling price.
12-Nov-21 16:40:09 187.727 55,000 Sell* 194.00 200.00 103.25k
Don't think the current buyer will chase the price over 200p. Therefore the sp likely to fall back to just below 180p unless there is news. Can't guarantee it will be good. Though the noises coming from BKS and reading between the lines in the Final Results, suggest it would be a shock if not more than just promising. Shocks do happen though, it has to be said.
GLA.
Current buys appear more significant than the sells. Yesterday the Market Maker upped the sp after this sell:
11-Nov-21 10:03:17 183.55 8,441 Sell* 184.00 188.00 15.49k O
Which suggests that they knew the buyer would be back for more (and sellers are more than welcome).
This is usually a quiet time for BKS with possibly no trading information emerging before the Interims in March. Though it is possible that BKS could issue a pre-AGM trading statement if good news is demanding one. AGM date not issued yet, should be fairly soon.