StockMarketWire.com - Cloud computing group Beeks Financial Cloud lifted its outlook on revenue following three contract wins in the first quarter of the year.

The company said it now anticipated revenues for the year ended 30 June 2022 would be ahead of current market expectations.

The contracts won in the first quarter were a $1.1 million multiyear analytics deal with a tier 1 bank for an Asian deployment; a $2.7 million contract for a private cloud deployment with a European bank via a partner, and a $1 million multiyear deal for its newly launched proximity cloud offering.

The additional revenue would be reinvested in the 'further development of the proximity cloud offering, to 'capitalise on its growing sales pipeline and significant market opportunity,' the company said.

The trading update arrived alongside final results for the year ended 30 June 2021, showing underlying profit and revenue increased 13% and 24% respectively.



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