AIM-listed QS group Baqus made a pre-tax loss of 拢347,000 in the second half of 2009, despite redundancies and office closures

Baqus cut costs by 拢500,000, but still suffered the loss in the final half of 2009, compared with a 拢365,000 profit in the same period in 2008. Turnover was 拢3.8m, compared with 拢4m in the second half of 2008. The firm also incurred an exceptional cost of 拢123,000 from redundancies and office closures, after purchasing Nigel Rose Group for an undisclosed sum last June.

Clive Sayer, chief executive, said: 鈥淧rojects in the public and private sectors have been subject to delay or cancellation, largely owing to government cutbacks and a lack of bank lending.鈥�

The firm said it will continue making acquisitions.

Topics