Baqus back in the black
BAQUS, the quantity surveying and project management business, crept back into the black in its first-half.
The group, which has offices in Manchester and Liverpool, saw revenue slip 9% to £3.5m in the six months to December 31 but it recorded a pre-tax profit of £86,000 compared with a loss of £339,000 last time.
Despite this improvement to the bottom line the firm said it was still being hampered by the delay and cancellation of projects in both the public and private sector.
AIM-listed Baqus was formed by Manchester businessman Roger Knowles in 2007 from the merger of three quantity surveying business: Boxall Sayer, Denley King and Liverpool-based Fletcher McNeill.
Chief executive Clive Sayer said: “I am encouraged that the group’s diverse client base spread across both the public and private sectors has enabled Baqus to enter the second half of the current financial year with a steady flow of work.
“Baqus is still experiencing a regular supply of enquiries from our clients (and potential clients) and I am confident that going forward the group will be successful in converting a number of these leads into firm orders at sensible margins.
“However the board remains very cautious as the long term outlook is far from certain, but with skilled and pro-active teams in each office, Baqus is well positioned to benefit from any upturn in the wider construction industry.”
