Listed consultant Baqus has said the credit crunch will help its acquisition plans

Speaking after announcing its first full-year results since floating on the alternative investment market (AIM) in December, the group said the harsh economic climate would force small consultants to consider takeover offers.

Clive Sayer, Baqus鈥� chief executive, said: 鈥淪maller companies will be finding life more difficult than in recent years and may decide they want to join a larger group. We鈥檙e in a strong position because there aren鈥檛 many companies looking to buy at the moment.鈥�

The company has a warchest of 拢2.5m for acquisitions, 拢1.75m of which it raised from its flotation.

Roger Knowles, the chairman of Baqus, said the company hoped to make two acquisitions next year. 鈥淭he idea is to get turnover to 拢20m in three to four years. We have to crack on and get a couple done every year 鈥� it would be disappointing to fall behind.鈥�

Patrick Lineen, Baqus鈥� finance director, refused to rule out further fund-raising through AIM if a 鈥渞eally juicy鈥� deal came along.

In the year to 30 June 2008, pre-tax profit was up 56% from 拢632,000 last year to 拢985,000. Turnover climbed 10% from 拢7m to 拢7.7m and the group鈥檚 order book stood at 拢9.6m.

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