Quantity surveyor Baqus says that it will not achieve market expectations in 2009-10 because of the tough construction market.
Seymour Pierce was forecasting a £500,000 loss in the year to June 2010 but it appears that the loss will be larger.
Baqus says that the slowdown has got worse since the General Election. There is still a lack of bank finance for construction schemes.
At 2p a share, down 0.25p, Baqus is valued at £2.27m.
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