Gordon McArthur

The company’s acquisition of VPS provider CNS earlier this year contributed to the figure, as well as the firm’s increase in Annualised Committed Monthly Recurring Revenue (ACMRR).

Gross profit also rose 23% year on year to £3.65 million, with an anticipated decrease in gross margins due to investment in the firm’s new Singapore and London data centre locations that were launched at the outset of the financial year, and have recently become revenue generating.

The firm said it continues to have a healthy level of customer concentration, with institutional customer numbers increasing to 220 from 192 as at 30 June 2018. Due to the number of companies still to transition to cloud-based IT systems, its addressable market leaves plenty of scope to grow.

CEO Gordon McArthur said: “Following an excellent close to the year, during which Beeks signed three Tier 1 clients, we have entered the new financial year in a strong position and enjoyed a good level of trading in the first two months of the year.

“Our core business with mid-tier organisations continues to grow and we are now layering on more strategic engagements with larger organisations. We are confident that the quality of our service will see our client list continue to grow in the year ahead, and we look to the future with confidence.”