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Share Name Share Symbol Market Type Share ISIN Share Description
Beeks Fin.Cloud LSE:BKS London Ordinary Share GB00BZ0X8W18 ORD GBP0.00125
  Price Change % Change Share Price Shares Traded Last Trade
  -1.00p -0.85% 116.50p 26,776 15:50:53
Bid Price Offer Price High Price Low Price Open Price
115.00p 118.00p 117.50p 116.50p 117.50p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 5.58 0.75 2.37 49.2 59.1

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Date Time Title Posts
13/12/201811:19Beeks Financial Cloud Group 181

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DateSubject
15/12/2018
08:20
Beeks Fin.Cloud Daily Update: Beeks Fin.Cloud is listed in the Software & Computer Services sector of the London Stock Exchange with ticker BKS. The last closing price for Beeks Fin.Cloud was 117.50p.
Beeks Fin.Cloud has a 4 week average price of 100p and a 12 week average price of 97p.
The 1 year high share price is 145p while the 1 year low share price is currently 42.50p.
There are currently 50,753,000 shares in issue and the average daily traded volume is 46,542 shares. The market capitalisation of Beeks Fin.Cloud is £59,127,245.
20/9/2018
11:01
blondviking: Zoo and Beeks are both worth holding IMO with lots of growth and increase in share price possible. Buying opportunity for Beeks this am.
29/8/2018
16:01
masurenguy: Paul Scott's view (Paul owns BKS shares) This is a very interesting company, which floated on AIM in Nov 2017. I'm generally very sceptical about new issues, but made an exception in this case, after a friend recommended that I read the Admission Document. Also, I was very impressed with the CEO's presentation at Mello Derby, and increased my position size from small to medium shortly afterwards. Results today look terrific to me. Revenue growth (organic) of 41% - this is a little below forecast, but still highly impressive. Big rise in gross margin, resulting in gross profit up 90% on last year. Underlying EPS of 2.27p, giving a PER of just under 38. The main adjustment is for one-off IPO-related costs, which is perfectly reasonable to exclude from the number used to value the business. Maiden dividend of 0.3p, in line with forecast. Crypto-currency markets may be providing a short term boost to performance although the narrative says that most revenues are derived from forex and futures markets. Possible acquisitions have been assessed, but none has met the company's investment criteria. It sounds as if there might be future acquisitions, which would probably result in some dilution. The CEO's dominant shareholding should however protect us from anything reckless or too dilutive being done. Balance sheet is small, but strong. No issues there. Modest Director remuneration, as is often the case with Scottish smaller companies. Only 821k share options outstanding, which is minimal compared with 50.0m existing shares in issue - good, as it means little dilution in future. Note that there is a minimal tax charge, so forecasts need to factor in a higher future tax charge. So this flatters EPS at this stage. Paul's Opinion: This is exactly the type of company that I search for, and want to invest in. It's growing strongly, organically. Not only are sales rising, but gross margins are too, giving fantastic operational leverage. The outlook comments are confident. How to value it? Personally, I see this as an exceptionally good growth company, hence in a bull market, I'm prepared to push the boat out on valuation. This can be risky, if anything goes wrong, but plenty of lowly valued companies also drop heavily on disappointments, and are arguably more likely to disappoint in the first place. For me, I think this company deserves a premium PER of 50, which based on EPS forecast of 3.6p for the current year, ending 06/2019, suggests a price target of 180p - about double the current share price. Some readers may recoil at paying a PER of 50. However, given that the company has just reported such strong figures, I think it's justified. There's an update note from a good quality broker today on Research Tree. I think perhaps some investors baulked at the revenue miss, and sold early on today. However, in my view, the more important numbers are gross profit and EPS, which came in ahead of forecast. Indeed the main broker has today increased its 06/2019 EPS forecast. This share is a reminder that when picking small caps, it's really all about; Backing top quality management. A great business model. Going for a lucrative & perhaps overlooked niche. Over my sabbatical this summer, I've had lots of thinking time, which has helped me focus more on the above simple 3 points. Short term valuation is less important than the above factors, in my view. So these days I'm more inclined to pass on almost all share ideas. However, for the shares that do meet my rigorous investment criteria, I tend to concentrate my funds into them more heavily than in the past. So when funds permit (am fully invested at present), then I'll be looking to buy the dips with Beeks. As always, this is just my personal opinion, which is not a substitute for readers doing your own research, because sometimes I will be wrong!
16/3/2018
11:13
glasshalfull: Morning folks, Just saw the discussion on EPS. The Cenkos EPS figures is, as I previously stated, in respect of diluted adjusted EPS. I’ve checked the broker note and it doesn’t provide a detailed breakdown, merely stating 4 x EPS figures: - 2018 Basic EPS = 2.0p Adjusted EPS = 2.0p Diluted Adj EPS = 3.4p Diluted Adj EPS (a further one)= 3.4p 2019 Basic EPS = 3.4p Adjusted EPS = 3.4p Diluted Adj EPS = 4.9p Diluted Adj EPS (a further one)= 4.9p So, take your pick!!! I’m not too bothered about the EPS figures at this time given that the period under review has been impacted by IPO costs, with my investment decision based on the EBIT margin, monthly run-rate, FCF & market opportunities of the company at this juncture in their public life. Cenkos have reviewed Beeks using DCF modelling (discounted cash flow) & indicate +32% upside valuation on a zero growth rate (at a share price of 53p at time of their report). Using a mid range they indicated a market cap of between £45m-£49m versus today’s market cap of £29.7m Hope this assists. Kind regards GHF
11/3/2018
08:57
glasshalfull: Beeks Financial Cloud Site visit I visited Beeks (BKS) Glasgow HQ & also Network Operations Centre (NOC) on Friday (09.03.2018) as it’s located fairly close to me. Ideal opportunity & great timing as it was a fortnight after release of their interims (to 31.12.2017). Should make mention that I thought it impressive that their interims had been released so quickly, only 7-weeks after the period end. Quite a few companies could learn from this. The visit allowed me to get a better feel for their proposition & development. It also provided me the opportunity to speak with the wider team of employees. Gordon McArthur (CEO) & Simon Goulding (CFO) were extremely hospitable & welcoming, as were the extended team, allowing me to view the main critical trading infrastructure operation in monitoring the impact of the US Non-Farm Payrolls where markets experience a considerable spike each month following release of the numbers. No issues encountered with systems coping admirably. I observed that the demand went up 6/7-fold (to my untrained eye) before normalising. This is the major market spike event each month & Gordon indicated that this is a predictable event but the NOC team are monitoring from 2200hrs on Sunday evening through to 2200hrs on Friday evening & ensuring access at all times and especially at times of considerable market volatility. (I’ve placed a couple of snaps on Twitter @glasshalfull1) Below is a short overview of the company. I don’t plan to prepare a comprehensive one at this time, my preference to wait for release of FY2018 results & their Annual Report later in the year before placing fingers on keyboard. Irrespective, investors will be pleased to know that Beeks will be attending & presenting at Mello 2018 in Derby so chance for investors to apprise the investment opportunity first hand. I believe the wonderful Tamzin (PI World) may be filming them at Mello, great for investors & prospective investors unable to attend. I can’t recommend the event highly enough & will be there from the Wednesday evening through to the Friday night. HTTP://mello2018.com/ Background As previously mentioned my attraction, was drawn to Beeks as they are profitable & exhibit a strong & growing recurring revenue model. They have also signalled that they are looking to establish dividend payments following release of FY2018 results. Beeks were established in 2011 & their recurring revenue model or Infrastructure as a Service (known as an IaaS model) finds 95% of their customers paying monthly & therefore the company is strongly cash generative & revenue recognition is high. This model has allowed company to make two acquisitions to date & invest in their infrastructure during 2016 & 2017 to support growth. They provide a low-latency service for algorithmic or automated trading, providing critical connectivity & server infrastructure for institutional and retail clients. Essentially, this means that they provide over 6,000 retail traders & c.170-180 financial institutions with connectivity for automated trading – FX (80%) & Futures (20%) from 9 data centres around the world. Algorithmic & automated trading appears a fast growing segment & on speaking with Gordon & Simon, both confirmed there are tens of thousands of financial institutions around the world that could be potential clients. FX and derivatives brokers to hedge funds. Many financial institutions have commenced providing automated trading services to their clients and many utilise automated trading services. In other words, they are only just scratching the surface at the moment. Beeks came to the market in November 2017 via an IPO at 50p where they raised £3.5m net of expenses. Despite the positive interims released in February the share price is only +10% on the issue price (55.5p). Market cap is £27m & the company had £2.55m net cash at 31.12.2017. It should also be noted that Major Holders (over 3%) account for 83% of the equity with Gordon McArthur retaining a 61.8% stake. I would draw anyone interested in the company to their admission document with p7-19 providing an excellent overview of their proposition; the market; why Beeks & competitive landscape. HTTPS://www.beeksfinancialcloud.com/wp-content/uploads/2017/02/Beeks-Financial-Cloud-Group-plc-Admission-Document-Final.pdf Results They released H1 2018 results in February 2018 which confirmed further strong growth & a positive outlook for FY 2018 (30.06.2018). HTTPS://www.investegate.co.uk/beeks-fin-cloud-grp--bks-/rns/half-year-report/201802220700065887F/ H1 2018 metrics confirmed: - *Revenue increased by 40% to £2.57m (H1 2017: £1.83m) *Good revenue visibility maintained with Annualised Committed Monthly Recurring Revenue up 50% at £5.93m (H1 2017: £3.96m), in line with management expectations *Gross profit up 62% to £1.20m (H1 2017: £0.74m) *Gross profit margin 46% (H1 2017: 40%) *Underlying* EBITDA increased by 92% to £0.63m (H1 2017: £0.33m) It’s this annualised committed monthly recurring revenue growth that is particularly significant. The IaaS model provides reliability to revenues & immediate payment from the vast majority of clients. As mentioned, 95% pay monthly, so no bad debts & strong cash generation. As shown during the last few years, the business is highly scalable & will allow margins to grow further. BKS have experienced high growth in their institutional client base which accounts for c. 80% of turnover. Not only are they gaining more clients, but this client base is also delivering an increased spend. The company have a broad spread of clients & no single client provides a dominant proportion of revenue. This enabled Beeks to report an exit run-rate of monthly committed revenue of £494k at 31.12.2017 or £5.9m annualised. Year-End Revenue Run Rates Worth reiterating the year end exit run-rates: - 2014 = £900k 2015 = £1.6m 2016 = £3.4m H1 2017 = £4m 2017 = £4.7m H1 2018 = £5.9m & Cenkos are forecasting: - 2018 (at 30.06.2018) = £7.2m 2019 = £9.8m Cenkos noted that CAGR between 2014-2019 will be c.65% if they deliver as per forecasts & the CAGR of adj EPS between 2016-2019 would therefore be over 76% placing Beeks on a PEG of 0.2 The Future H1 2018 results confirmed a positive outlook for the full year with a continuation of revenue growth. While they are focusing in growth opportunities in Asia there is also an opportunity for them to offer further services to existing & prospective clients through additional levels of security (DDoS) protection (worth Googling DDoS attacks) & also the development of back-up services to clients. Importantly, the infrastructure investment they undertook in 2016/17 currently provides them with 6 racks of unused capacity on their platform which is spread over various data centres. Each unused rack is currently capable of generating an average of £38,000 per month of recurring revenue, or in total around £3m of annualised revenue with little additional cost. I would envisage that the company will continue to focus on acceleration of organic growth by growing the client base while supplementing this with small bolt-on acquisitions or perhaps in the fullness of time, a move into other asset classes/additional markets. Conclusion A very worthwhile visit to the company & I came away greatly impressed with CEO, CFO & team members I met. Setting up trading infrastructure & additional services are complex & time consuming for small institutions & individuals, so they appear to have developed an excellent niche & a cost-effective solution which would otherwise require clients to set-up & maintain networks. The BKS set-up is extremely fast with customers up and running within minutes. There is also an opportunity for them to develop further services & add some small bolt-on acquisitions. Per the CEO, any acquisition must exhibit growth, be profitable & add value to the business. It was highlighted that most sales have occurred through word of mouth so they are looking to expand the sales team in the near term & are also viewing expansion in Asia & China. Cenkos have PBT forecast of £1.2m this year (to 30.06.2018) & £2.1m PBT in 2018/19. I observed a team that are well incentivised & aligned in growing the company over the months & years to come. It was clear from my visit that the CEO has much loftier ambitions of growing the institutional investor base significantly from current numbers & should this occur then profitability should increase rapidly…& the share price will react accordingly! Declaration I have a modest holding in Beeks…so please DYOR & take my musings with the proverbial pinch of salt. Kind regards, GHF
12/2/2018
10:32
glasshalfull: Declaration that I was a strong buyer on Friday & partially responsible for the 7% rise. I’d simply missed this IPO in Nov but my investment colleagues L Boros & E Roskill mentioned their interest. With share price below the IPO price due to general market turbulence it appeared an excellent opportunity to get in below the IPO price. As I understand, the company will either be releasing interim results or t/s in the next fortnight. No reason to believe they’ll differ from positive trading mentioned in the admission document. What piqued my interest was the strong & growing recurring revenue model adopted by BKS. Cash generation has been high & model has allowed company to make two acquisitions to date & invest in their infrastructure during 2016 & 2017 to support growth moving forward. Their trading infrastructure & additional services appear complex & time consuming for small institutions & individuals to build so they appear to have developed an excellent niche with a cost effective service so that small companies & individual traders avoid the expense of setting up networks. Apparently the BKS set-up is extremely fast with customers up and running same day or within 24 hours. Also appears that their focus on customer service, aligned with low cost & flexibility ensure that the company enjoys positive review and word of mouth with a customer base of 6,000 individual traders & 165 institutional clients at Sept 2017. The monthly IaaS revenue model gives great visibility of revenue & £4m net raised will hopefully allow for acceleration of growth. Cenkos intimate that gross margins are forecast to substantially increase in 2018 and 2019 to 50-60% from 40% in 2017 following the significant investment undertaken. They also forecast for diluted adjusted EPS of 3.4p in 2018 (30.06.2018) & 5.0p in 2019. Beeks are also looking to develop a progressive dividend policy. Will post further on news or results. Kind regards GHF
12/1/2018
10:00
martywidget: Placing of 9,000,000 New Ordinary Shares of £0.00125 each and 5,000,000 Sale Shares of £0.00125 at 50.0p per Ordinary Share "a positive welcome from the market since the start of the year." The share price is positive from the start of the year and those that bought post IPO at the lower levels [for a 20%-30% trade]. {No position}
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