Beeks Financial Cloud Group plc (LON:BKS), a cloud computing and connectivity provider for financial markets, today provided an update on trading for the six months ended 31 December 2024 (H1 FY25).

Trading in H1 FY25 has been in line with Board expectations, with revenues expected to increase 22% to £15.8m (H1 2024 £13.0m) and underlying Profit before tax expected to increase 31% to £1.8m (H1 2024 £1.4m).

Beeks has achieved a positive free cash flow position in the period after working capital movements, with unaudited net cash of £6.6m at 31 December 2024 (June 2024 net cash of £6.6m), with the company having received a delayed post period end payment of £1.2m in early January.

Strong Exchange Cloud momentum has continued. In addition to the approval of the contract with one of the largest exchanges globally, the Group was pleased to secure a further extension to the Johannesburg Stock Exchange contract and, post-period end, a major new win with Grupo Bolsa Mexicana de Valores, the second-largest exchange in Latin America.

The Board continues to be confident in achieving results for FY25 in line with its expectations, underpinned by a robust business model and increasing Exchange Cloud momentum.

Gordon McArthur, CEO at Beeks, commented:

“We have continued to deliver strong growth in the first half and prove our ability to secure deals with the largest exchanges globally. With a robust business model and an established reputation as a technology provider to financial markets, we are confident in converting our strong pipeline of additional Exchange Cloud opportunities and achieving a full year financial performance in line with the Board’s expectations.”

Beeks will issue its results for the six months ended 31 December 2024 on 17 March 2025.