Beeks adds top level financial clients amid 'strong' second-half trading

Beeks chief executive Gordon McArthur hailed a 'strong second half and successful outcome' to the year. Picture: contributed

In a stock market announcement the Aim-quoted cloud computing provider said it had signed two "substantial" Tier 1 clients: a global investment management organisation and a global bank.

Under a deal worth around £500,000, Beeks is to provide the investment firm with managed connectivity to support its fixed income platform.

The agreement with its banking client - via a partner organisation - is to deliver an initial proof of concept for a fixed income implementation, which is revenue generating and currently live with the client.

Beeks did not attach a value to the contract but said it anticipates this will lead to an "extensive" deployment with the lender.

The group also confirmed trading had been in line with expectations for the 12 months to 30 June, pointing to a "successful" end to the year. It is due to release full financial results towards the end of next month.

Chief executive Gordon McArthur said: "We are pleased to announce a strong second half and successful outcome to the year, in which we delivered continued revenue and profit growth, while expanding our offering.

"Beeks Financial Cloud is growing the services we can provide and therefore the variety of customers we can serve, as reflected by these exciting Tier 1 client wins.

"We are seeing growing interest from financial services organisations in managed cloud computing and connectivity. The resilience and scalability of our network, combined with our specialist financial services expertise, means we are increasingly well positioned to benefit from the growth of this market and we look to the future with confidence."

These wins build on the announcement of Beeks' first Tier 1 customer in December, from within the insurance sector, and add to the company's growing portfolio in the fixed income asset class.

Earlier this month the group agreed a a mutual preferred vendor arrangement with IPC, a US provider of communications and networking to financial markets.