TROUBLED x-ray technology group Bede is to be restructured after losses nearly doubled last year to £4.7m

The company, which employs nearly 100 people at its headquarters in Durham, would not comment on job losses, but said it was looking to reduce its cost base by 16 per cent.

Bede's results for the year to December 2005 were released less than ten days after chief executive Dr Neil Loxley resigned.

It reported a small decrease in revenues from £7.3m in 2004 to £6.9m, while operating charges climbed from £6.4m to £8m.

The company, which also has operations in the US and the Czech Republic, supplies x-ray measuring tools to the semiconductor industry. Financial director David Hall blamed a delay in orders for the disappointing figures, and said this year would be challenging.

Executive chairman Stuart McIntosh said in a statement yesterday: "In view of lowered sales for 2005 and in anticipation of that continuing during the first quarter of 2006, the group will undertake a restructuring exercise and anticipates a 16 per cent reduction in its cost base."

Mr McIntosh took on the role of executive chairman following last week's resignation of Dr Loxley. He joined the board as non-executive chairman in December 2004 after his retirement from ASML Holdings as chief operating officer.