Notice of Interim Results and Trading Update (0374B)
11 February 2011 - 1:35AM
UK Regulatory
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
END
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