Good morning!

I finished yesterday's report at about 6pm, so here is the link, in case you are interested in the completed sections on Frontier Developments (LON:FDEV) and McBride (LON:MCB) - both of which I think look quite interesting.


Apologies but I didn't get round to looking at EI (LON:EIG) . This is because the whole afternoon was spent planning & carrying out my latest Director interview, which I thought was a better use of my time.


Somero interview today

The interview audio file is here. Many thanks to readers here, who submitted some excellent questions a few days ago. I tried to name-check you in the call!





Beeks Financial Cloud (LON:BKS)

Share price: 103.5p (up 1.5% today, at 11:00)
No. shares: 50.7m
Market cap: £52.5m

(at the time of writing, I hold a long position in this share)

Results presentation video

Our friends Tamzin and Tim, at PIWorld, published a very interesting new video yesterday. It's the results presentation from Beeks. The CEO and FD talk through the presentation slides, then answer Q&A.

What particularly impressed me, is that some of the audience questions are quite searching. Management answered them honestly, and were happy for the video to go out as is. That gives me a lot of confidence. I'm sure that lesser companies would want the difficult questions edited out of the video, which does nobody any favours in the long run.

Other interesting points from this video;

  • Beeks has a stronger moat than I realised - the CEO said it took 5-6 years of blood sweat & tears to create its network of connections to over 200 financial exchanges worldwide - so not something that could be quickly or cheaply replicated
  • Strong organic growth, and rising gross margins expected - this should give a nicely leveraged benefit to profits. I wonder if forecasts might be too cautious?
  • In the past, there was little to no sales effort - growth came from inbound sales enquiries, often referred by the exchanges themselves. This is remarkable in itself. However, Beeks is now building a proper outward looking sales force. This could turbocharge growth, I hope
  • Despite a revenue miss…

Unlock the rest of this Article in 15 seconds

or Unlock with your email

Already have an account?
Login here