Beeks Financial Cloud Group Posts a 24% Jump in Annual Revenues

Beeks Financial Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term Group, one of the leading cloud computing and connectivity providers for international financial markets, released its financial results for the year ended 30 June 2021 today.

According to the latest results, the company’s revenues reached £11.62 million in the year ended 30 June 2021, which is 24% higher compared to £9.36 million in 2020. In FY21, the company’s institutional revenue accounted for 91% of the total revenue, compared to 85% in FY20.

Beeks Financial Cloud Group’s gross profit during the mentioned period touched £5.33 million, which is up by 16% compared to FY20. The company’s underlying profit before tax increased 13% to £1.61 million in FY21.

Commenting on the latest financial results, Gordon McArthur, CEO of Beeks Financial Cloud, said: “The prospects for Beeks have never been more promising. The successes with our tier 1 clients mean we are now recognized 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 Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and delivery for our customers.”

In August 2021, Beeks Financial Cloud Group introduced Proximity Cloud, the industry’s first private cloud environment for financial markets.

Outlook and Expansion

The company is expecting a positive market environment and a substantial increase in the sales pipeline. Beeks is also planning to expand its operations in the coming year. “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," McArthur added.

Last year, Beeks announced a collaboration with the Singapore Exchange (SGX) to remove commercial trade barriers in the country.