IN BRIEF: Beeks Financial Cloud shares rise as wins three contracts

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Beeks Financial Cloud Group PLC - Renfrew, Scotland-based cloud computing and connectivity provider - Wins three contracts across its Analytics, Proximity Cloud and Private Cloud offerings, worth around £1.7 million in total. One of the contracts is over three years with a new global technology customer, with a contract value of around £600,000, and opportunities for future expansion. Revenue recognition from the Analytics and Proximity Cloud contracts is expected to start this month, support the firm’s performance in the current financial year. Revenue from the remaining contract will be recognised in the next financial year, which starts on July 1. Chief Executive Officer Gordon McArthur says: ‘These contract wins demonstrate continued demand across our product portfolio and reflect the breadth of opportunities we are seeing across infrastructure, connectivity, analytics and AI-powered insight.’

Current stock price: 215.00 pence each, up 13% on Wednesday morning in London

12-month change: up 1.2%

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