TRADING technology firm Beeks Financial Cloud has said it has made good progress in recent months, amid the volatility triggered by the Covid-19 coronavirus.

The company, which is based on the outskirts of Glasgow, said it expects to announce trading results for the year to end June within the range of market expectations.

“Covid-19 has had a relatively small impact on Beeks’ overall trading,” said the company, whose technology can be used to speed up the execution of trades in financial products.

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Beeks said the lockdown has inevitably impacted some customers’ decision-making processes but it is in advanced contract discussions with prospective clients. The group has a continually growing sales pipeline.

The company has increased employee numbers at its Hillington head office to 42, from around 30 at the end of December.

The integration of the Velocimetrics business it acquired in April has progressed well.

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The purchase of London-based Velocimetrics, for up to £4.55 million, allowed Beeks to expand its product range and customer base. Velocimetrics developed software that can be used to monitor transactions that are in progress and for the production of performance analysis.

Beeks Financial Cloud’s chief executive Gordon McArthur noted in April that increased volatility across global financial markets was providing a positive trading environment for a large proportion of the company’s customers.

Aim-listed Beeks grew first-half underlying profits by around 50 per cent, to £0.6m from £0.41m.