The Renfrewshire-based company’s Gross profit grew by 30% to £14.7m. This performance was significantly boosted by the rapid expansion of its proximity and exchange cloud services, which saw revenue nearly triple from £3.5m to £10.3m.

The growth was underpinned by new deals with the Australian Securities Exchange, Grupo Bolsa Mexicana de Valores, and the cryptocurrency exchange Kraken. Post-period end, the company also secured a contract with a division of TMX Group, the owner of the Toronto Stock Exchange. Beeks also expanded existing contracts, including with the Johannesburg Stock Exchange, to meet strong customer demand.

Chief executive Gordon McArthur hailed “another landmark year” for the company, highlighting the double-digit growth and strengthened recurring revenue. He noted that the financial market’s shift to cloud-based solutions has created a record sales pipeline for Beeks.

“Following two years of market education… we believe we are now a well-established and highly regarded player in the financial markets infrastructure,” Mr McArthur stated. He added that new offerings, such as a revenue share model for exchange cloud, enhance future opportunities.