News blog
Baqus
- BY: Andrew Hore |
- POSTED: 24/03/2010 |
Quantity surveyor Baqus remains cautious about prospects.
Weak construction demand has hit trading and although work is being won it is at lower margins than in the past. The order book is flat at £8m. Management had already warned that the interim figures would be disappointing.
Revenues fell from £3.98m to £3.85m in the six months to December 2009. A profit of £365,000 has turned into a loss of £470,000, including an exceptional charge for redundancies and office closures.
Net debt was £160,000 at the end of 2009.
At 3p a share, Baqus is valued at £3.4m.
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