2021 saw a revenue increase of 24% from the previous year to £11.62 million.
Gordon McArthur, CEO of Beeks Group commented:
“I’m delighted to report on a record trading performance for Beeks, the strong demand for our product offering from both existing and new customers saw us deliver record revenue growth of 57% to over £18.3m, ahead of initial market expectations and thus providing a strong basis for further growth in the current year.”
The 2021 operational highlights included the continued growth in the tier 1 customer base, ongoing focus on innovative product development with the launch of two new products, proximity cloud and Analytics as a Service. There has been a successful integration of Velocimetrics into the business and rebranded as Beeks Analytics to reflect the broadening of Beeks’ offering.
The continued investment in our team, with a headcount increasing to 80, supports our growth objectives as well as the expansion of our data centre geographies, with operations now in Canada and Australia.
Gordon continued, “The prospects for Beeks have never been more promising. The successes with our tier 1 clients means we are now recognised as an established technology provider to financial markets, with a track record and compelling reference clients, providing us with a strong foundation to drive our business forward. Having completed the first stages of our product investment, our focus for the year ahead will be on sales execution and delivery for our customers.
Whilst we continue to assess the ongoing impact of Covid-19 on our business and operations, and the pipeline of opportunities will take time to convert, this pipeline is at a record level which combined with the expansion opportunities within our current customer base gives us confidence in another strong year of growth ahead.”
Together with the expansion of operational partnerships with a number of counterparties including SGX, IPC and MEMX, we’re confident in continuing our accelerated growth and predict another strong financial year in 2022!