Beeks Financial Cloud Group PLC (AIM:BKS) shares succumbed to profit-taking on Wednesday, falling 7%, despite posting strong revenue growth and positive cash flow.
The cloud computing provider reported a 22% rise in revenue to £15.8 million for the six months to December while underlying profit before tax jumped 31% to £1.8 million.
The company maintained a net cash position of £6.6 million, with a £1.2 million delayed payment received in January.
Momentum for its Exchange Cloud service continues to build, with a major new deal secured with Grupo Bolsa Mexicana de Valores, Latin America’s second-largest exchange, alongside an extension to its Johannesburg Stock Exchange contract.
In early trading, the stock was down 21.52p at 301.48p following a run-up of 18% since the start of January.