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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Baqus Group | LSE:BQS | London | Ordinary Share | GB00B29PX007 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.125 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
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 TSTKKODNABKDKPB
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