News blog
Baqus
- BY: Andrew Hore |
- POSTED: 26/02/2010 |
Baqus has warned on trading and said that it does not intend to pay an interim dividend.
Baqus paid an interim of 0.05p a share last year and followed that with a final dividend of 0.06468p a share. The dividend was an important part of the strategy when the quantity surveyor floated.
Projects are being delayed and in some cases cancelled. A lack of finance is the problem. Increased competition for less work has hit margins. The cost base has been cut by £500,000 a year but there are related exceptional costs. This means that the figures for the year to June 2010 will be below expectations.
At 3.25p a share, down 0.375p on the day, Baqus is valued at £3.68m
The 2009 figures will be reported on 24 March.
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