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Beeks financial results FY 2020: Tenth year of continued growth

Following the publication of today’s final results for the year ended 30 June 2020, we’re delighted to report our tenth year of continued growth.

Beeks GroupPress and communications
15th Sep 2020

This year saw a revenue increase of 27% up from the previous year to £9.36 million.

Gordon McArthur, CEO of Beeks Financial Cloud commented:

“I am pleased to report on a year of considerable progress, in which the Group has delivered against its strategic objectives; increasing the number of Tier 1 customers, expanding its geographic presence and offering and completing the strategic acquisition of Velocimetrics.”

2020 operational highlights included the signing of two Tier 1 clients, bringing the total number of Tier 1 clients to five, with further Tier 1 customers acquired as part of the Velocimetrics acquisition. The acquisition of Velocimetrics, a UK-based network monitoring and trade analytics software company, broadens Beeks’ offering and expands the total addressable market

The opening of seven new Datacentres saw further expansion of our network in Singapore SG1, London LD8 and LD4.2, Paris PA3, Sydney SY3, NY Halsey and NY5 in New York, bringing our international network to 18 data centres.

Gordon continued, “While the ongoing Covid-19 pandemic may continue to cause a delay in corporate decision making, and in spite of the wider economic uncertainties, we are confident the long-term growth drivers in our market remain intact – with financial services organisations increasingly looking to take advantage of the benefits of Cloud infrastructure.

We anticipate continued growth of our existing Tier 1 accounts, as they expand the use of our offering into new geographies, and we believe the launch of our analytics offering has the potential to layer on new SaaS product revenues. We are confident in our ability to convert our growing sales pipeline, and therefore continue to be excited about the future for the Group.”

Together with our recent ISO/IEC 27001 certification award, the internationally recognised standard for information security management systems (ISMS), we’re confident in making it eleven years in a row with another strong financial year ahead!

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