Business
Launch of Proximity Cloud and Trading Update
Launch of Proximity Cloud and Trading Update.
About this update from Beeks Financial Cloud Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0673I\n Beeks Financial Cloud Group PLC\n 10 August 2021\n \n \n \n \n \n \n \n Beeks Financial Cloud Group plc\n \n \n (\"Beeks\" or the \"Company\") \n \n \n \n \n \n Launch of Proximity Cloud\n \n \n Trading Update\n \n \n \n 10 August 2021\n \n -- \n \n Beeks Financial Cloud Group Plc\n \n (AIM: BKS)\n , a cloud computing and connectivity provider for financial markets, is pleased to announce the launch of Proximity Cloud, the industry's first private cloud environment for financial markets and to provide an update on trading for the year ended 30 June 2021.\n \n \n Launch of Proximity Cloud\n \n \n Developed over the prior year and with the support of the proceeds from the fundraise in April 2021, Proximity Cloud has launched today with multiple client Proof of Concepts commencing.\n \n \n Proximity Cloud is a high-performance, dedicated and client-owned trading environment, fully optimised for low latency trading conditions and built with security and compliance at the forefront. \n \n \n Being hosted and managed on a client site, as opposed to within a Beeks facility, this new offering addresses a significant part of the market that was previously unavailable to the Company. \n \n \n Trading Update\n \n \n The Group has experienced good levels of trading in the second half of the year, notwithstanding the ongoing impact of Covid-19, and expects to announce results in line with market expectations, delivering growth in both revenue and Underlying EBITDA on the prior year. The Group has continued to successfully expand its relationships with existing Tier 1 customers in the second half and has a growing pipeline of opportunities. \n \n \n With an expanded, differentiated offering, growing sales network and increased sales pipeline, the Board remains confident in the Group's ability to capitalise on the growing demand for cloud computing and connectivity from financial services organisations and the ongoing success of Beeks. \n \n \n The Company looks forward to providing a further update at the time of the Final Results, to be released in mid-September.\n \n \n \n \n \n For further information please contact:\n \n \n \n \n \n Beeks Financial Cloud Group plc\n \n \n \n \n \n \n \n \n \n \n \n \n \n Gordon McArthur, CEO\n \n \n \n \n via Alma PR\n \n \n \n \n \n \n Fraser...