2019 results demonstrate strategic delivery
Cloud computing and connectivity provider for financial markets Beeks Financial Cloud Group (“Beeks”) has reported FY 2019A results in line with our forecasts. Contract wins in the key institutional business demonstrate that the group is delivering against the stated strategic priority of customer growth and also show the benefits of the ongoing investment in the Beeks platform. Management commentary on the outlook is positive, and our FY 2020E earnings estimates are unchanged following the announcement. In this note we also introduce FY 2021E estimates for the first time.