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(Alliance News) - Beeks Financial Cloud Group PLC is on course for its full-year, it said Monday, after a solid interim performance.
Shares were 5.5% higher on Monday morning in London at a price of 105.00 pence each.
Revenue in the six months to December rose 23% to GBP4.3 million, with pretax profit rising 15% on the year before to GBP389,000. Underlying pretax profit climbed 46% to GBP600,000.
Glasgow-based Beeks, which provides cloud computing and connectivity services to financial markets, has kept its interim dividend unchanged on the year before at 0.20p per share.
During the half, Beeks signed two more "Tier 1" clients, one a cloud-based payments provider and the other a global financial markets technology provider.
Current trading is "positive", Beeks said, and is meeting market expectations.
Chief Executive Gordon McArthur commented: "I am pleased to report on another positive trading period for Beeks, delivering continued growth in revenue, underlying earnings before interest, tax, depreciation, and amortisation and annualised committed monthly recurring revenues. Our success is being driven by a combination of the growing demand for secure and scalable cloud environments by financial institutions, and the superior breadth of our offering and capability.
"Momentum has continued into the second half of the year, with the implementations of the Tier 1 contracts progressing well and to plan. The business has grown considerably over the last six months, in terms of offering and customer base but also in the addressable market, due to the successes we have had in new areas of the financial services market."
"These factors combined with the continued growth in our committed recurring revenues and size of our new business pipeline, provide us with confidence in our continued success," McArthur continued.
By George Collard; georgecollard@alliancenews.com
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