Bailey Teswaine endures sales slump in FY10

Integrator posts £4.7m annual loss as revenue declines 16 per cent

Bailey Teswaine's figures inlcuded a £6.8m write-down investment in VAR s2s

Integrator Bailey Teswaine swallowed a 16 per cent annual turnover decline and a loss of almost £5m during a tough 2010 fiscal year.

The company, which is the IT services arm of construction firm NG Bailey, recently filed results with Companies House. The numbers reveal that sales for the year to 26 February stood at £46.1m – a drop of more than £9m on last year. Net loss for the year was £4.7m, less than half the £9.9m loss endured in FY09.

This year’s losses were largely attributed to a £6.8m write-down investment in s2s, the Cisco Gold partner that Bailey bought in 2008. Despite the declines, Bailey Teswaine’s directors’ report claimed the results provided cause for optimism.

“In spite of the difficult trading conditions, the company has performed satisfactorily,” said the report. “Action taken in the previous year, along with continuing cost control, has seen a significant decrease in administrative expenses.”