Beeks Financial Cloud Group, one of the leading cloud computing and connectivity providers to the international financial markets, released its financial results for the year ending June 30, 2021 today.
According to the latest results, the company’s revenue was £11.62 million in the year ending June 30, 2021, an increase of 24% compared to £9.36 million in 2020. In fiscal year 21, the company’s corporate revenue accounted for 91% of total revenue, compared to 85% in fiscal year 2020.
The Beeks Financial Cloud Group’s total profit during the cited period was £5.33m, an increase of 16% over fiscal year 2020. The company’s core profit before tax rose 13% to £1.61m in fiscal year 21.
Commenting on the latest financial results, Gordon MacArthur, CEO of Beeks Financial Cloud, said: “Beeks’ prospects have never been more promising. Successes with our first-class clients mean that we are now known as a well-established technology provider to the financial markets, with a proven track record and compelling reference clients, providing us with a solid foundation to drive our business forward. After completing the early stages of our product investment, our focus for the next year will be on executing sales and delivery to our customers.”
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In August 2021, the Beeks Financial Cloud Group introduced Proximity Cloud, the industry’s first private cloud environment for financial markets.
Expectations and Expansion
The company expects a positive market environment and a significant increase in its sales pipeline. Beeks also plans to expand its operations next year. “As we continue to assess the ongoing impact of Covid-19 on our business and operations, and the range of opportunities will take time to transform, this pipeline is at a record level combined with expansion opportunities within our existing customer base that gives us confidence in another strong year of growth ahead,” Mack added. Arthur.
Last year, Beeks announced a collaboration with the Singapore Stock Exchange (SGX) to remove trade barriers in the country.