Clive Sayer, the boss of QS Baqus, was in a punchy mood after announcing the company鈥檚 broadly sound first full-year results on Tuesday

It was, he suggested, a jungle out there. He pointed to a growing top line and a shrinking bottom line as evidence that some firms were putting in cut-throat, if not suicidal, bids, and everyone was suffering as a result. He said: 鈥淭here鈥檚 more competition out there so prices are going down and some companies are bidding at or below cost. The problem is some are not then delivering a high quality service, which gives the profession a bad name.鈥�

Sayer also suggested that public sector clients who go for the lowest bids should know better.

In the year to 30 June 2009 turnover at Baqus rose 2% to 拢7.9m and pre-tax profit fell nearly a third from an annualised figure of 拢1.1m to 拢739,000. As a result, the margin fell from 13% to 9%. Sayer said fee levels were down by anything between 10% and a third.

He is, though, still looking to buy other firms to give the AIM-listed consultant some extra muscle, although doesn鈥檛 expect to tie anything up this side of next Easter.

鈥淚鈥檓 sitting down for more cups of coffee with prospective targets than I was this time last year,鈥� he offered, hopefully.

Meanwhile, Barratt came in for some ribbing after a stock exchange and a national newspaper announcement urged subscribers to its 拢720m rights issue to ensure the postal strike didn鈥檛 stop them getting in their request for shares.

鈥淩edrow is in the middle of a rights issue and hasn鈥檛 done the same thing,鈥� pointed out one analyst. With 拢720m on the line as opposed to 拢150m at Redrow perhaps the nerves are justifiable.

Elsewhere social housing repair and maintenance group Mears issued an upbeat trading update that declared: 鈥淭he demand for our services has never been stronger.鈥� Well, that鈥檚 just rubbing people鈥檚 noses in it, isn鈥檛 it?

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