Page 14 - Beeks Financial Cloud Group Annual Report 2021

12 Beeks Financial Cloud Group PLC For the year ended 30 June 2021

Strategic Report – Chief Executive’s Review

Chief Executive’s

Review

connectivity and analytics are Another of our Tier 1 customers, an Having completed the first stages
being used to support customers open banking provider, has now of our product investment, our
in a range of financial services expanded its initial £1.1m three-year focus for the year ahead will be on
activities. Typically these services contract, to 180% of the original sales execution and delivery for
are trialled in one data centre commitment, again with further our customers. Whilst we continue
STRATEGIC REPORT
before being rolled out to additional expansion opportunities ahead. to assess the ongoing impact
Beeks locations. Of note in the year of Covid-19 on our business and
has been the expansion of two of FUTURE GROWTH AND OUTLOOK operations, and the pipeline of
our earliest Tier 1 customers. The prospects for Beeks have never opportunities will take time to
been more promising. The successes convert, this pipeline is at a record
We completed the successful full with our Tier 1 clients means we are level which combined with the
deployment of the first stage of now recognised as an established expansion opportunities within our
an annualised $1m global private technology provider to financial current customer base gives us
Cloud solution for a global financial markets, with a track record and confidence in another strong year
markets technology provider which compelling reference clients, of growth ahead.
has subsequently been extended providing us with a strong foundation
to further geographies. Committed to drive our business forward.
contract revenue at the year end
was $3m of annualised revenue
and further reached $3.7m by GORDON MCARTHUR
the end of August 21 with further Chief Executive Officer
expansion anticipated thereafter. 24 September 2021