Beeks Financial Cloud Group, the Glasgow-based private infrastructure and connectivity provider for financial markets, published an update on trading for the six months ended December 31, 2024, saying that trading in H1 FY25 has been in line with board expectations.

Beeks said its revenues are expected to increase 22% to £15.8 million and underlying profit before tax is expected to increase 31% to £1.8 million.

“Strong Exchange Cloud momentum has continued,” said Beeeks.

“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.”

Beeks CEO Gordon McArthur said: “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.”