Published on: March 2, 2020
Strong growth and momentum
Beeks Financial Cloud Group’s (“Beeks”) H1 20A results demonstrate impressive growth and profitability, alongside strong operational momentum. Institutional and retail revenues both grew well during the period, and underlying EBITDA grew by almost a third YoY, reflecting firm cost management. Operational highlights include the signing up of two new Tier1 clients – bringing the roster up to five, and datacentre expansion. We make downward revisions to forecasts following the announcement, primarily reflecting revised assumptions on revenue growth from Tier1 clients.