Notice of Interim Results and Trading Update (0374B)

TIDMBQS

RNS Number : 0374B

Baqus Group PLC

10 February 2011

BAQUS GROUP PLC

("Baqus" or "Group")

Notice of Interim Results and Trading Update

The Directors of Baqus, the building consultancy and quantity surveying group, are pleased to announce that its interim results for the six months to 31 December 2010 will be announced on or around 28th February 2011.

Commenting on current trading, Clive Sayer, Chief Executive, said "as we noted in our final results announced on 5 November 2010, a number of initiatives implemented by the Group, both in terms of managing costs as well client retention and new business opportunities, have resulted in the Group moving back into profitability in the first half."

"Whilst it is pleasing to see improvements in trading, the Board remains mindful of the fragile state of the UK's economic recovery and the likely impact of the Government's austerity measures, particularly in the public sector. We remain cautiously optimistic for the rest of the financial year".

Contact:

 
Baqus Group plc 
 Clive Sayer (Chief Executive)                    01243 792220 
 Patrick Lineen (Finance Director)                 01606 891617 
Seymour Pierce (NOMAD and Broker) 
 Mark Percy / David Foreman (Corporate Finance) 
 Katie Ratner (Corporate Broking)                 020 7107 8000 
 
 

Background Note:

Baqus is a national building consultancy and quantity surveying group offering construction cost consultancy, project management and building surveying services to clients in the UK. The Group works across a number of business sectors including: leisure, hospitality, health, education, affordable housing, residential, commercial and conservation. Clients include commercial companies and developers, local authorities, central government, NHS and residential Housing Associations.

The Quantity Surveying Market in the UK, estimated at the time of flotation to be worth in excess of GBP1 billion, is highly fragmented and dominated by a small number of major players, which the Baqus Group Directors believe make it ripe for consolidation. At the time of the Group's admission to AIM, the stated strategy was to acquire small to medium sized quantity surveying practices across the country. In 2008 they acquired Sworn King and Partners and in 2009 Nigel Rose Group. Once acquired, the practices have been incorporated into the wider Group with a particular emphasis on exploiting opportunities for operational synergies with existing business units.

This information is provided by RNS

The company news service from the London Stock Exchange

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