Beeks Financial Cloud Group PLC (AIM:BKS) shares dropped 11% to 226.73p in early trading, despite delivering strong half-year results and a bullish outlook. The market, it seems, is hard to impress.
The cloud computing provider for financial markets reported a 22% rise in revenue to £15.79 million, while underlying profit before tax was up 37% to £1.89 million. Recurring revenue also climbed 7% to £28.5 million, and cash generation remained strong.
Beeks has been securing major contracts, including a multi-year deal with a global exchange and a post-period win with Grupo Bolsa Mexicana de Valores in Latin America. It also signed its first cryptocurrency client, Kraken, under a new revenue-sharing model.
Looking ahead, Beeks expects momentum to continue, with several leading exchanges in final talks. The company is also rolling out AI-driven analytics and transitioning more clients to long-term revenue-sharing deals.
CEO Gordon McArthur remains upbeat, calling Exchange Cloud a "transformational product". But despite the positive outlook, investors appear cautious, with shares taking a hit.