Business
Half-year Report
Half-year Report.
About this update from Beeks Financial Cloud Group Plc
[{"type":"text","content":"\n \nRNS Number : 5887F Beeks Financial Cloud Group PLC 22 February 2018 \n \n\nBeeks Financial Cloud Group plc\n(\"Beeks\" or the \"Company\")\n \nInterim Results\n \n22 February 2018 - Beeks Financial Cloud Group plc (AIM: BKS), a niche cloud computing and connectivity provider for financial markets, is pleased to announce its unaudited results for the six months ended 31 December 2017.\n \nFinancial Highlights \n \n· Record results in line with management expectations\n· Revenue increased by 40% to £2.57m (H1 2017: £1.83m)\n· Good revenue visibility maintained with Annualised Committed Monthly Recurring Revenue up 50% at £5.93m (H1 2017: £3.96m), in line with management expectations \n· Gross profit up 62% to £1.20m (H1 2017: £0.74m)\n· Gross profit margin 46% (H1 2017: 40%)\n· Underlying* EBITDA increased by 92% to £0.63m (H1 2017: £0.33m) \n· Underlying* profit before tax up 124% to £0.28m (H1 2017: £0.13m). Net loss before tax of £0.11m, reflecting exceptional items of £0.34m relating to the listing of the Group on AIM (H1 2017; loss of £0.18m)\n· Underlying* basic EPS up 31% to 0.51 pence (H1 2017: 0.39 pence). Basic and diluted EPS loss 0.39 pence (H1 2017: Loss 0.38 pence)\n· Net cash of £2.55m as at 31 December 2017 (31 December 2016: net debt £0.68m)\n· Successful IPO on AIM in November 2017 raising £4.5m (before expenses)\n \n*Underlying excludes IPO exceptional costs relating to AIM listing and amortisation on acquired intangibles\n \nOperational Highlights \n \n· Launch of a new cloud hosting site in New Jersey, US, bringing the total number of sites to nine\n· Delivery of the first Fixed Income project, opening up a new asset class for the Group\n· Number of institutional clients increased to 170 as at 31 December 2017 (31 December 2016: 113)\n· Increased headcount for technical support and delivery\n· Enhanced sales chann...