Beeks Financial Cloud Group (BKS)

Sector:

IT Services

Index:

FTSE AIM All-Share

187.00p
   
  • Change Today:
    -5.00p
  • 52 Week High: 192.00
  • 52 Week Low: 88.50
  • Currency: UK Pounds
  • Shares Issued: 66.43m
  • Volume: 64,940
  • Market Cap: £124.22m
  • RiskGrade: 140

Beeks Financial Cloud shares soar as contract wins bolster outlook

By Benjamin Chiou

Date: Tuesday 06 Feb 2024

LONDON (ShareCast) - (Sharecast News) - Shares in AIM-listed Beeks Financial Cloud Group soared on Tuesday after the company announced two contract wins and delivered a bullish outlook for the next financial year.
The cloud computing and connectivity provider for financial markets said that after winning a number of competitive tenders in the first half ended 31 December, results for the financial year ending June 2025 should be "significantly ahead of previous board expectations".

The stock was 41% higher at 152.07p by 0830 GMT.

Beeks has signed a further contract with an unnamed "Tier 1 investment manager", after first winning work with the customer in November 2023 for Proximity Cloud, its fully configured and pre-installed physical trading environment. The new contract has been awarded for additional locations and more than doubles the initial contract's value to $3.6m in aggregate over a four-year period.

Beeks also said it's hoping for "considerable further expansion" with only 30% of the customer's trading infrastructure currently migrating to Proximity Cloud.

Meanwhile, Beeks also signed a conditional contract with one of the world's largest exchange groups for its Exchange Cloud offering - the start of what it hopes to be a multi-year partnership. This is the third major international exchange to sign up to the Exchange Cloud offering, Beeks said.

"The delivery of free cash flow was a key objective for the current year and we are pleased to have achieved that to plan, as we capitalise on the investments we have made into the expansion of our product offering," said chief executive Gordon McArthur.

"Our growing contract momentum demonstrates the considerable appetite we see across the financial markets, and we now anticipate FY25 will be significantly ahead of our previous expectations."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BKS Market Data

Currency UK Pounds
Share Price 187.00p
Change Today -5.00p
% Change -2.60 %
52 Week High 192.00
52 Week Low 88.50
Volume 64,940
Shares Issued 66.43m
Market Cap £124.22m
RiskGrade 140

BKS Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
83.69% below the market average83.69% below the market average83.69% below the market average83.69% below the market average83.69% below the market average
54.76% below the sector average54.76% below the sector average54.76% below the sector average54.76% below the sector average54.76% below the sector average
Price Trend
80.85% above the market average80.85% above the market average80.85% above the market average80.85% above the market average80.85% above the market average
72.04% above the sector average72.04% above the sector average72.04% above the sector average72.04% above the sector average72.04% above the sector average
Income Not Available
Growth
44.59% below the market average44.59% below the market average44.59% below the market average44.59% below the market average44.59% below the market average
49.43% below the sector average49.43% below the sector average49.43% below the sector average49.43% below the sector average49.43% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BKS Dividends

  Latest Previous
  Interim Final
Ex-Div 18-Mar-21 01-Oct-20
Paid 01-Apr-21 27-Nov-20
Amount 0.20p 0.15p

Trades for 12-Apr-2024

Time Volume / Share Price
16:36 5,000 @ 187.50p
16:03 500 @ 187.98p
15:47 1,353 @ 187.98p
15:25 5,000 @ 188.00p
15:22 5,319 @ 188.00p

BKS Key Personnel

CFO Fraser McDonald

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