Trading Statement

 

TIDMBQS 
 
RNS Number : 6884M 
Baqus Group PLC 
28 May 2010 
 
For Immediate Release 
28 May 2010 
 
BAQUS GROUP PLC 
("Baqus" or "the Group") 
 
Trading Update 
Baqus Group plc, one of the leading building consultancy and quantity surveying 
groups, announces the following trading update in advance of its year end on 30 
June 2010. 
As previously detailed in the Group's interim results on 24 March 2010, trading 
in the construction industry remains challenging with lead times on certain 
projects being extended.  This slow-down has been increasingly pronounced since 
the result of the General Election and the continued lack of bank lending for 
construction schemes. 
The Group continues to maintain a tight control over its cost base; however, 
with this increased slow-down, the Group now expects results for the year ending 
30 June 2010 to be below current market expectations. 
Baqus has a positive cash position and still has access to an undrawn overdraft 
facility totaling GBP0.5 million. 
Commenting on the trading update, Clive Sayer, Chief Executive of Baqus Group, 
said: "Trading conditions in the construction industry remain challenging.  Our 
focus remains to move to a break-even position over the next financial year 
whilst retaining the Group's core expertise and skill base to ensure that we are 
in a strong position to benefit from any improvement in market conditions." 
Contact: 
Baqus Group plc 
Clive Sayer (Chief Executive) 
07967 132 221 
Patrick Lineen (Finance Director) 
07818 034 452 
 
Seymour Pierce (Nominated Adviser and Broker) 
Mark Percy / David Foreman                                                  020 
7107 8000 
 
Cubitt Consulting (Financial Public Relations Advisers) 
Chris Lane / James Verstringhe                                              020 
7367 5100 
 
Background Note: 
Baqus was admitted to trading on AIM on the 14 December 2007, having raised 
GBP1.75 million through a placing of 17,500,000 Ordinary Shares. 
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: health, education, leisure, hospitality, affordable housing, 
residential, commercial and conservation. Clients include local authorities, 
central government, NHS, residential Housing Associations, commercial companies 
and developers. 
The Quantity Surveying Market in the UK, estimated 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. Since 
the Group's admission to AIM, they have been pursuing a strategy of acquiring 
small to medium sized Quantity Surveying practices across the country, the most 
recent of which is Nigel Rose Group. Previous activity includes the acquisition 
of Sworn King and Partners in 2008. Once acquired, the practices are 
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 
   END 
 
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