Beeks Financial Cloud sees 'record month' for Proximity Cloud offering

(Sharecast News) - Cloud computing and connectivity provider Beeks Financial Cloud said on Monday that it had signed approximately $10.0m of Proximity Cloud contracts in June.

Beeks said June marked "a record month" for its Proximity Cloud offering, with the new contracts made up of four-to-five-year contract wins and renewals for brokerage and fintech firms, spanning "key locations" across the UAE and Europe.

The AIM-listed firm stated revenues associated with the deals were set to be recognised across both FY25 and FY26, contributing to "a strong start" to FY26.

Beeks added that its FY25 results were expected to demonstrate "significant double-digit growth" on the prior year, with overall revenues expected to have increased approximately 25% to £35.5m, while underlying earnings were seen 29% higher to £13.8m and underlying pre-tax profits were 41% at £5.5m.

Chief executive Gordon McArthur said: "Consistent with previous years, we are yet again set to deliver significant double-digit growth. The steady flow of new customer wins, as well as the significant expansion potential across our existing customer base, serve as a testament to the value of our product offerings, our ability to execute on sales, and our established position as a leading technology provider for financial markets.

"We enter FY26 with ongoing confidence in our ability to convert the strong pipeline of opportunities across our offerings."

Reporting by Iain Gilbert at Sharecast.com