AIM-listed QS group Baqus made a pre-tax loss of £347,000 in the second half of 2009, despite redundancies and office closures

Baqus cut costs by £500,000, but still suffered the loss in the final half of 2009, compared with a £365,000 profit in the same period in 2008. Turnover was £3.8m, compared with £4m in the second half of 2008. The firm also incurred an exceptional cost of £123,000 from redundancies and office closures, after purchasing Nigel Rose Group for an undisclosed sum last June.

Clive Sayer, chief executive, said: “Projects in the public and private sectors have been subject to delay or cancellation, largely owing to government cutbacks and a lack of bank lending.”

The firm said it will continue making acquisitions.