London-based IT company, Beeks Financial Cloud Group, announced that it anticipates reporting an increase in both revenue and underlying pretax profit for fiscal 2023. Additionally, the board is highly confident about its fiscal 2024 expectations.
For the fiscal year ending June 30, Beeks Financial Cloud Group projects that revenue will surpass 20% compared to the previous year's figure of £18.3 million ($23 million). The company also expects underlying pretax profit, which excludes exceptional and other one-off items, to be approximately 10% higher than the reported £2.1 million last year.
Furthermore, Beeks Financial Cloud Group saw an annualized committed monthly recurring revenue growth of more than 20%, amounting to £23.8 million over the year. This figure has since increased to over £25 million as of August 31 due to a robust start to the new financial year.
Chief Executive Gordon McArthur expressed confidence in the company's performance, stating, "We have begun the new year with strong momentum and high levels of revenue visibility. As a result, we are on track to meet our management expectations for fiscal 2024, and there is potential for further growth through acquiring new clients."
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