Listed QS says slowdown in construction sector will mean it will not meet market expectations this year

Listed QS Baqus Group has issued a profit warning and said that it will not meet market expectations when results are issued at the end of June.

The group said that it had seen an increased slowdown in the construction sector since the general election on 6 May, and that schemes were still struggling to secure loans from banks.

Clive Sayer, its chief executive, said: “Trading conditions in the construction industry remain challenging. Our focus remains to move to a break-even position over the next financial year while 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.”

Baqus maintained that it had a positive cash position and still has access to an undrawn overdraft of £0.5m.