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Baqus
- BY: Andrew Hore |
- POSTED: 07/11/2010 |
- COMMENTS: Add yours
Quantity surveyor Baqus fell into loss in the year to June 2010 but it is currently trading profitably.
Revenue dipped from £7.85m to £7.26m and Baqus swung from a profit of £739,000 to a loss of £823,000. Gross margins more than halved to 14%. The loss was struck before the £295,000 cost of shutting offices and redundancies. The annualised cost base has been reduced by £857,000.
Net debt was £171,000 at the end of June 2010.
The public sector provides a large proportion of work for the group so there is still uncertainty relating to future government spending.
At 2p a share, Baqus is valued at £2.27m.
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