Beeks Financial Group PLC - Scotland-based cloud computing and connectivity provider for financial markets - Updates full-year revenue guidance on the win of a new five-year contract, worth $2 million initially, with an unnamed North American bank, for its Proximity Cloud offering. The contract is secured via a partner. Proximity Cloud is a private cloud environment for financial markets.

Revenue now will be slightly ahead of previous guidance, which had already been upwardly revised. Additional profit will be reinvested into Proximity Cloud to support its future pipeline.

Chief Executive Officer Gordon McArthur comments: ‘I am delighted to have signed another Proximity Cloud contract, underpinning the board’s strong belief in the value of the offering. We are attracting some of the world’s leading financial services organisations and I am confident the investment we are making in additional features to Proximity Cloud, will see our pipeline continue to increase.’

Current stock price: 165.00 pence, up 3.8% on Tuesday

12-month change: up 45%

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