Here it is, your all new Cape plc thread. The chart features Bollinger Bands, MACD, 50 and 200 day SMAs.

Cape plc, provides a range of non-mechanical industrial services including access systems, insulation, painting, coatings, blasting, industrial cleaning, training and assessment to both industrial plant operators and major international engineering and construction companies.

Web Site Link:http://www.capeplc.com

Here's the new thread, Skinny.

Right on cue, the chart shows the formation of a Golden Cross - a true cross with both the 50 and 200 day MAs moving up at the time of crossover. If this plays out as the formation demands, then we could be in for good times ahead.

Gap filled.

Uncrossed @326p +5.2%

UT trade 291,081 shares, so not sure what's going on.

Yes, I noticed that. Somebody was keen to buy in volume by the looks of things. Bid coming? Stranger things have happened.

I've got a limit sell in @328 which gives me a quid a share profit - may have to rethink that over the weekend!

M&G 13% -> 14%

CIU seems to be consolidating around 315p.

Still consolidating around 315 - RSI looks to be turning up.

RSI still unwinding to make room for another run. The market will need further confirmation that the worst is over before we take a look at £4. That's my end of year target, at which point I will probably bail out.

These looks to be finally breaking out from 315.

Didn't quite get there Skinny - but there's always tomorrow.

Trying again but only 67k traded.

Breakout failed. Looks like we must wait either for next news or for the market sentiment to pick up again.

sp down 6%?

Interim Management Statement due 15th May - Financial Calendar

Investec Buy 291.25 287.50 300.00 375.00 Reiterates

Cape awarded maintenance contract in Azerbaijan

Cape awarded maintenance contract in Azerbaijan

Cape plc, the international provider of essential support services to the energy and mineral resources sectors, announces its SOCAR CAPE joint venture has been awarded a three-year contract with two one-year extension options by a major international oil company for the provision of Fabric Maintenance Services at its offshore and onshore assets in Azerbaijan.

The joint venture agreement with the State Oil Company of Azerbaijan (SOCAR) was signed on 30 June 2010. The 'SOCAR CAPE' joint venture is owned 51% by SOCAR and 49% by Cape. This contract will be accounted for in the share of post-tax results of joint ventures line in the UK, Europe and CIS region within the Group's accounts. For this reason, the value of this award will not appear in the Group's reported order book and revenue.

Good news...... and the share price falls! Roll on next month and the next update.

Cape secures 3 year contract with options at Eggborough Power Station

Cape plc, the international provider of essential support services to the energy and mineral resources sectors announces the award of a three year contract, with two additional one year options, by Eggborough Power Limited to provide integrated services of access, insulation, asbestos and cleaning services at the Yorkshire Power Station to the end of 2015 (2017 with options).

Eggborough Power prides itself on its Safety and Human performance ethos and industry leading operational uptime. Cape’s services play a crucial role in achieving this level of performance.

results next week sp down 5% today?

Halifax - Ex dividend today!!

Interim Management Statement

Trading

Cape is pleased to confirm that the Group's overall trading for the first quarter has been in line with the Board's expectations.

The UK, Europe & CIS region has performed in line with expectations, with volumes slightly higher and operating margins slightly lower than expectation due to the mix of work across the region. As announced on 26 April, the Group has secured an important maintenance contract in Azerbaijan through its SOCAR CAPE joint venture. The joint venture is currently mobilising to ensure a smooth transition from the previous contractor.

The MENA region has performed ahead of expectations driven by higher activity levels and slightly higher operating margins than expected. The Arzew Project in Algeria remains on track with the revised plan and the cost to complete is expected to be in line with the previously disclosed provision.

Activity levels in the Asia Pacific region remain in line with expectations reflecting higher volumes in Singapore as the large construction project comes to completion offsetting lower volume in the Onshore Australia business that reflects weakening market conditions. Operating profit margins for the region were depressed partly due to this mix of volume and partly due to lower than expected margins in the Onshore Australia business.

In light of the market conditions in Australia and resultant deterioration in business performance, management has instigated further action to reduce costs in order to deliver a strong, cost effective platform for future growth, particularly in the petroleum and LNG markets. The business expects to complete further organisational changes during 2013 including the consolidation of certain branches and the closure of some smaller branches. This will enable the business to maintain its focus on winning and executing major capital work packages whilst building a sustainable maintenance business in the long-term.

Outlook

Cape has made a solid start to 2013. The focus for the year ahead remains driving operational excellence throughout the Group to optimise the performance of its existing business whilst providing the platform for future growth.

In light of current market conditions, the regional outlook for the full year performance for 2013 is anticipated to follow a similar trend to the first quarter, with the Asia Pacific region, and Australia in particular, expected to be challenging. At this stage in the financial year the Board remains confident that the business overall is on track to deliver in line with expectations for the year ending 31 December 2013.

Financial calendar

Cape expects to announce its results for the half year ending 30 June 2013 on 29 August 2013.

Canaccord Genuity Buy 273.88 303.00 303.00 Reiterates

Investec Buy 273.88 375.00 375.00 Reiterates

Numis Hold 273.88 - 300.00 Downgrades

Ooops. I forgot to post that I sold out of these last week. Nothing wrong with the company, but I had to cover a situation elsewhere and needed to raise cash. If it does fall back I may return.

JP Morgan Cazenove Overweight 248.00 248.00 308.00 308.00 Reiterates

Prudential 14% -> 15%

Bullish engulfing candle atm.

Another excellent close.

Investec Buy 273.75 273.50 375.00 375.00 Reiterates

Half Yearly Report

Highlights
• H1 2013 performance in line with the Board's expectations
• Robust performances from the majority of the Group offset by a continued poor performance in Asia Pacific
• Order intake subdued at £239m (H1 2012: £363m) largely due to weakness in Asia Pacific; key prospects targeted for H2 2013
• Arzew Project substantially complete
• Good progress on driving the Operational Excellence programme
• Performance improvement programme initiated in Australia; Exceptional charge of £15.6m (H1 2012: £nil)
• Interim dividend of 4.5p (H1 2012: 4.5p)
• The Board anticipates the full year performance will be broadly in line with expectations

JP Morgan Cazenove Overweight 280.75 280.75 308.00 323.00 Reiterates

Numis Hold 261.50 280.75 300.00 300.00 Reiterates

M&G group > 15%

Ex dividend Wednesday 4.50p.

J O HAMBRO CAPITAL MANAGEMENT GROUP LIMITED > 5%

Reasonable performance in the end and on ex dividend day.

Numis Hold 267.38 265.00 300.00 300.00 Reiterates

sp 246p down 5% following JP Morgan re-rating.

Following LAM - again - low volume.

Trying 280 again.

Interim management Statement November 18th - Financial Calendar

Beat me to it skinny. Next resistance 300p.

Cape secures access contract in Thailand

Cape plc, the international provider of essential industrial services to the energy and natural resources sectors announces it has been awarded a two-year outline service agreement by STP&I Public Company Limited (STP&I).

Cape will provide scaffolding support services for Package 1, Plot A on the LNG Pre-Module Fabrication activities at the Laemchabang facility in Thailand, prior to their onward shipment to the onshore Ichthys LNG facility in Australia.

Interim Management Statement

Trading

The Group's overall trading for the third quarter was in line with the Board's expectations. Overall revenues were slightly ahead of expectations, offset by the margin impact of a less favourable mix of activity in the UK and lower than expected margin project work in the Middle East. Whilst the third quarter was in line with expectations, the Board expects that the full year result will be further impacted by operational challenges on a specific project in the Middle East.

UK & CIS

The UK business continues its robust performance and is trading in line with expectations, with higher revenue being offset by a slightly lower margin resulting from a mix of work weighted more toward the lower margin offshore market. Volumes in Kazakhstan reduced as anticipated as major project work there, such as the Kashagan development project, nears completion. Mobilisation of the significant maintenance project in Azerbaijan continues to plan and the business is focused on working with the State Oil Company of Azerbaijan (SOCAR) to agree outstanding commercial and financing arrangements for the Joint Venture.

MENA

As expected, activity levels in KSA continue to be high, partially offsetting a slowdown in UAE as several significant projects in that part of the region are coming to completion. Competitive pressures, combined with operational difficulties on a specific project in Qatar, will impact the region's performance in the second half. These operational issues have been recognised early in the project lifecycle and the necessary corrective actions are being taken. It is anticipated that second half margins for this region will be significantly below those delivered in the first half.

The Arzew Project in Algeria has been largely completed as anticipated in the revised plan; the cost to complete is within the previously disclosed provisions and cash receipts continue to be in line with agreed commercial terms.

Asia Pacific

As expected, market conditions continue to be challenging in both Asia and Australia. Despite this, the business delivered a better than expected performance in the third quarter as the benefits of the performance improvement plan for the Group's Australian business began to bear fruit. It is anticipated that this region will achieve a breakeven position by the end of the current financial year and return to profitability in FY14. This improvement in the outlook for the Australian business will be further strengthened by the award of the access contract for the Wheatstone project announced today, expected to be worth in excess of £45m. A decision on the award of the substantial insulation, fireproofing and coatings contract for the same project is expected shortly.


Order Book

The Group's order book as at 30 September 2013 stood at £482m (30 June 2013: £593m) reflecting expected timing of key target contracts and the on-going challenges in a number of the Group's markets.

The Group's financial position remains robust with net debt at 30 September 2013 of £78.3m (30 June 2013 £73.9m).

Outlook

The Board anticipates that the full year operating profit will be materially below previous expectations as a result of the project specific operational challenges in the Middle East. Group earnings per share is expected to be slightly below previous expectations as a result of the mitigating effect of the minority interest in the Qatar business and an improvement in the Group's overall tax rate.

The Group has targeted a number of key prospects to be secured during the next two quarters which will be important in delivering the Board's expectation of improved performance in 2014. The near term strategy and focus for the Management team is on securing these prospects and continuing to drive operational excellence throughout the Group.

Conference Call: 8.00am GMT 15 November 2013

A conference call for analysts and investors will take place at 8.00am this morning. The conference call can be accessed by dialling +44 (0)203 139 4830 and pin code 99360776#.

CAPE AWARDED WHEATSTONE PROJECT CONTRACT

Cape plc is pleased to announce that its wholly owned subsidiary Cape Australia Onshore has entered into an agreement with Bechtel, one of the world's most respected engineering, project management, and construction companies, for the supply of Scaffold Erection and Dismantling Services on the Chevron-operated Wheatstone Project in Western Australia.

The contract, valued at over AUD $80 (£45) million expects to create 135 new Australian jobs, all located onsite at Ashburton North, 12 kilometres west of Onslow in Western Australia. Jobs include approximately 95 skilled scaffold erectors supported by 40 supervision, safety, administration and management roles.

Joe Oatley, Chief Executive of Cape plc, said: "We are delighted to announce the award of this contract which will create new local employment opportunities and recognises the management and expertise of our recently reshaped Australian business. Building on Cape's considerable world-class LNG construction expertise, this contract will provide a solid base of project activity for our Australian business."

"We look forward to working closely with our client, and supporting them in delivering safe, efficient and productive construction activities on one of Australia's largest resource construction projects."

And there it is - down 16% at open!

JP Morgan Cazenove Neutral 273.75 270.00 299.00 288.00 Reiterates

Numis Buy 266.88 267.25 300.00 300.00 Upgrades

Cape Awarded Second Wheatstone Project Contract

Cape plc is pleased to announce that its wholly owned subsidiary Cape Australia Onshore has entered into an agreement with Bechtel for the provision of Painting, Insulation and Fireproofing Services on the Chevron-operated Wheatstone Project in Western Australia.

The contract, valued at over AUD 275 million (£155 million), is expected to create 490 new Australian jobs, all located onsite at Ashburton North, 12 kilometres west of Onslow in Western Australia. Jobs include over 390 metal workers, blaster and painters, cryogenic insulators and fire proofers supported by 100 supervision, safety, administration and management roles.

Cape plc, the international provider of essential support services to the energy and mineral resources sectors, will announce its preliminary results for the year ended 31 December 2013 on Wednesday 19 March 2014.

Acquisition of leading tank storage specialist

Acquisition of leading tank storage specialist

Cape plc, the international provider of critical support services to the energy and mineral resources sectors, announces today that it has acquired UK-based Motherwell Bridge, a leading provider of storage tanks, gasholders and heat exchangers to the energy and steel markets.

The total consideration for the acquisition amounts to £37.65 million on a cash free, debt free basis, comprising of an initial cash consideration of £34.0 million, debt of £0.9 million, deferred consideration of £1.25 million contingent on a key contract win and up to £1.5 million related to future performance. The acquisition will be funded from the Group's existing debt facilities and is expected to be earnings enhancing in the current financial year ending 31 December 2014.



Motherwell Bridge, headquartered in Lanarkshire, Scotland, is recognised internationally as a leader in the specialist storage tank market. The business has an excellent global brand reputation and has historically delivered a significant number of storage tanks around the world. In addition, Motherwell Bridge also provides and maintains gasholders for the global steel industry, and maintains and refurbishes heat exchangers primarily in the UK continental shelf. Motherwell Bridge has a strong management team, all of whom will remain with the business post acquisition.



Motherwell Bridge employs approximately 300 people, primarily located in the UK. For the year ending 31 December 2012, Motherwell Bridge generated EBITA of £4.8 million on a revenue of £34.6 million. Its gross assets as at 31 December 2012 were £42.4 million.

Canaccord Genuity Buy 321.25 324.00 300.00 360.00 Reiterates

Preliminary Results

Highlights
· Adjusted operating profit up 48% to £41.0m (2012: £27.7m)
· Adjusted diluted earnings per share up 86% to 23.6p (2012: 12.7p)
· Order intake at £625m (2012: £619m); order book at 31 December 2013 10% lower at £648m (31 December 2012: £720m)
· Arzew project completed to revised plan and within the existing provision
· Divestment of non-core operations and Performance Improvement Plan in Australia completed
· Substantial progress on the first phase of strategy to stabilise the operational performance of the business
· £37.7m acquisition of Motherwell Bridge in Q1 2014
· Operating cash flow up 20% to £49.7m (2012: £41.5m) resulting in adjusted net debt of £60.2m (2012: £65.2m)
· Full year dividend 14.0p (2012: 14.0p)
· The Board is confident in the continued improvement in operating performance and the future prospects of the Group

Contract Award - Cape Hong Kong Fuji

23 April 2014

Cape Plc, the international provider of critical support services to the energy and mineral resources sectors, announces its subsidiary, Cape Hong Kong Fuji (CHKF), has been awarded a three year contract with a major power supplier in Hong Kong, for the provision of safe access services and associated services.

Cape acquired Hong Kong Fuji Technology, now CHKF, in March 2012, in order to expand the Group's presence in this region. The business has performed well since acquisition and this contract award further demonstrates the successful integration of the acquisition.

Joe Oatley, Chief Executive of Cape commented:
"We are delighted with this contract award and look forward to building on our existing relationships in the region. In order to secure this award a cross-regional team has built on the best practice processes and knowledge in our UK operations and implemented them in our Hong Kong business to deliver an enhanced service and better value to our client. This demonstrates the progress we have made in implementing our strategy to work as one global business to deliver value to our key stakeholders."

Interim Management Statement

Trading
The Group's overall trading for the first quarter was in line with the Board's expectations.

The UK, Europe and CIS region has performed as expected with strong volume in the UK onshore market offsetting lower than anticipated volume in the UK offshore market and very low levels of project activity in Kazakhstan following the completion of Cape's work associated with the Kashagan project. Constructive discussions are ongoing with Cape's partner in Azerbaijan regarding the commercial structure of the joint venture and the business is now actively bidding for a number of significant new construction projects within the country. It is likely that the joint venture will require a material investment during the year in support of both existing and future projects. The acquisition of Motherwell Bridge, announced in March 2014, is performing as expected and the integration is progressing to plan.

The MENA region achieved strong order intake in the first quarter driven by the award of a number of construction projects in Saudi Arabia and the renewal of key term maintenance contracts in Qatar. Revenue and operating profit exceeded expectations with strong growth compared to the prior year in both Qatar and Saudi Arabia. The previously announced onerous contract in Qatar continues to perform in line with the revised expectations. The project is still in its initial stages, with a significant increase in work load anticipated over the summer months.

Activity levels in the Asia Pacific region have been impacted by delays to the mobilisation of the Wheatstone contract in Australia and low levels of activity in Hong Kong prior to the renewal of the key term maintenance contract. The Wheatstone project is now mobilising and volumes are expected to ramp up through the year. Cape was awarded the renewal of the main maintenance contract in Hong Kong at the end of March.

The Group order book, as at the end of March, is £84m higher than the 2013 year end position at £732m (31 December 2013: £648m), with particularly strong order intake from the MENA region. Bidding activity remains high across the Group but particularly in the MENA and UK, Europe and CIS regions.

Outlook
Market conditions remain mixed across the Group's regions, with strong demand in the MENA region offsetting low levels of demand for construction in the CIS and Asia and maintenance in Australia. The UK market remains at similar levels to 2013.

Given the steady performance in the first quarter, the current view of market conditions and the operational progress of the business, the Board remains confident that the business overall is on track to deliver in line with expectations for the year ending 31 December 2014.

Financial calendar
Cape expects to announce its results for the half year ending 30 June 2014 on 27 August 2014.

Back on the list.

Interim results for the period ended 29 June 2014

Highlights

· Overall trading performance in line with expectation:

o UK, Europe & CIS region performed in line with expectation

o MENA region performed ahead of expectation, with strong results in all major countries

o Asia Pacific region had a slow start to year with subdued activity in the Asia countries

· Order intake during the first half increased by 33% to £317m (H1 2013: £239m)

· Revenue decreased by 13% to £322.3m (H1 2013: £370.8m):

o Adverse foreign exchange movements accounted for 6% of the decrease

o 3% benefit resulting from the Motherwell Bridge acquisition

o Underlying reduction of 10% driven by the completion of a number of significant construction projects during 2013

· Adjusted operating profit decreased by 12% to £23.4m (H1 2013: £26.5m) with adjusted operating margin improving to 7.3%

· Period-end adjusted net debt of £132.0m (H1 2013: £73.9m, 31 December 2013: £60.2m), impacted by the £37.6m acquisition of Motherwell Bridge and a significant working capital outflow, driven by the seasonality of the UK power market

· Adjusted diluted earnings per share from continuing operations was 12.9p (H1 2013: 14.8p)

· The Group has declared an interim dividend of 4.5p (H1 2013: 4.5p) per share

StockMarketWire.com
Cape, an international leader in the provision of critical industrial services to the energy and natural resources sectors, has won a contract with BP to supply services within the Magnus Life Extension project, MLXP.

MLXP is a project being undertaken by BP as part of its North Sea renewals programme, and will see work carried out continuously from now through to Q2 2015.

The North Sea business will then work systematically to renew and refresh the fabric of the asset on a large-scale-project basis, clearing the way to embark on new drilling and the value-adding work that will see Magnus maximise its potential.

Cape UK managing director Simon Hicks said: "We are delighted to be awarded this project to support BP in its North Sea renewals programme, we look forward to working with BP to deliver this project safely and effectively."

JP Morgan Cazenove Overweight 283.00 355.00 355.00 Reiterates

Numis Buy 283.00 370.00 370.00 Reiterates

Canaccord Genuity Buy 283.00 360.00 360.00 Reiterates

Cape awarded multiple contracts in Azerbaijan

Cape plc is delighted to announce its SOCAR Cape joint venture has been awarded three significant contracts in Azerbaijan. The contracts are for the supply of services to projects that are part of the development of the Shah Deniz field, a major natural gas development in Azerbaijan. In aggregate the three contracts are expected to be worth in excess of $65m for the joint venture.

The joint venture agreement with the State Oil Company of Azerbaijan (SOCAR) was entered into in 2010 and is 51% owned by SOCAR and 49% owned by Cape. This contract will be accounted for in the share of post-tax results of joint ventures line in the UK, Europe and CIS region within the Group's accounts and for this reason, the value of this award will not appear in the Group's reported order book and revenue.

Joe Oatley, Chief Executive of Cape plc commented:

"The SOCAR Cape JV has made significant investment to ensure the business is correctly structured to be able to react to the needs of its clients and we are delighted that the benefits of this investment are starting to be seen. These contract awards are testament to the continued hard work and capability of the SOCAR Cape JV team and come at an exciting time in the country where there is increasing demand for our services. SOCAR is an important partner to Cape and we look forward to continuing our partnership with them on both these and future projects."

And so it begins..

Cape establishes joint venture with Prezioso Linjebygg

Cape plc and Prezioso Linjebygg SAS, the international providers of essential support services to the energy and natural resources sectors, are pleased to announce that they have concluded an agreement to create a Joint Venture company to bring together the capacity, experience and skills of both organisations in order to support the upcoming new-build nuclear programme in the UK. The agreement is subject to necessary regulatory approvals.

This new company will offer the programme a complete service capability in terms of industry know-how in Europe, both organisations having a significant heritage in this sector in the UK and France.

Joe Oatley, Chief Executive of Cape commented: "We are pleased to enter into this joint venture with Prezioso Linjebygg to establish a company dedicated to the UK's nuclear new-build sector, capitalising on the substantial structure and experience of both organisations for the benefit of our potential customers and our shareholders."

Preliminary Results

Highlights
· Order intake increased by 22% to £765m (2013: £625m); order book at 31 December 2014 was 15% higher at £746m (2013: £648m)
· Revenue increased by 3.5% to £698.3m (2013: £674.9m)
· Maintenance revenues increased by 16% to £486m (2013: £419m), increasing the resilience of the business
· Adjusted operating profit up 28% to £52.1m (2013: £40.6m)
· Improved adjusted operating profit margin, increasing from 6.0% to 7.5%
· Adjusted diluted earnings per share up 28% to 29.9p (2013: 23.3p)
· Operating cash conversion of 65% (2013: 151%) resulting in adjusted net debt of £101.0m (2013: £60.2m)
· Commercial and financing structure of SOCAR-Cape joint venture in Azerbaijan agreed and prospects improving with the recent contract awards on the Shah Deniz 2 development projects
· Good progress on strategy with continued operational improvement; the business is now pursuing the growth element of its strategy
· £36.6m acquisition of Motherwell Bridge in Q1 2014, now part of newly formed Cape Specialist Services offering
· Full year dividend maintained at 14.0p (2013: 14.0p) reflecting the Board's confidence in the future prospects of the Group

Cape awarded 5 year contract with ExxonMobil

Ex-divi 21st May 2015 (9.5p)

AGM Statement

Cape plc, the international provider of critical industrial services to the energy and mineral resources sectors, today issues the following AGM Statement for the period 1 January 2015 to date, incorporating the first quarter's results from 1 January 2015 to 5 April 2015.

The Group's overall trading for the first quarter was in line with the Board's expectations. Group order intake for the quarter was subdued due to continuing delays in the award of key UK maintenance contracts and a number of project deferrals for Motherwell Bridge. The resultant Group order book, as at the end of the first quarter of 2015, was £686 million (31 December 2014: £746 million). Post quarter end, Cape has announced significant maintenance contract awards in the UK with ExxonMobil and BP which have materially increased the Group order book.


As highlighted in the preliminary statement, the short term prospects across our markets are mixed but the long term demand for the Group's services is expected to grow. The UK market is expected to be subdued for the remainder of 2015 with lower project activity in the offshore sector and reduced volumes from coal power station outages, partially offset by solid demand for core maintenance activities. Activity levels in the MENA region remain encouraging for both construction and maintenance work. Construction activity in the LNG sector in Asia Pacific is increasing, both for modules being fabricated in Asian yards and also in Australia where, although the rate of increase in activity on the Wheatstone project is somewhat below our expectation, progress remains good. The Australian market remains challenging with low levels of demand and increasing pricing pressures. The Group has implemented cost management initiatives in both the UK and Australia which will mitigate some of the impact of the challenging markets in those countries.


As previously mentioned, the current market volatility continues to give uncertainty to the outcome of the second half of the year; however, given the performance of the business in the first quarter of 2015 and the opportunities we see ahead of us, the Board remains confident that, overall, the business remains on track to deliver in line with expectations for the year ending 31 December 2015.

Cape expects to announce its results for the half year ending 5 July 2015 on 26 August 2015.

Norges Bank Below 3%

Result of 2015 Annual General Meeting

Numis downgrades from buy to Add, but maintain their TP.

Numis Add 256.88 303.00 303.00 Downgrades

Acquisition of Redhall Engineering

Acquisition of multi-disciplined engineering business

Cape plc, the international provider of critical industrial services to the energy and natural resources sectors, announces today that it has acquired Redhall Engineering Solutions Limited ("Redhall Engineering"), for a totalconsideration of £6 million. The acquisition will be funded from the Group's existing debt facilities and is expected to be earnings enhancing in the current financial year.

Redhall Engineering employs approximately 420 people, primarily located in the UK and had revenues of £30.1 million for the year ending 30 September 2014. The business predominantly operates in the process and downstream oil & gas industries and provides a range of maintenance services including specialist pipe welding and repair, tank repair, bundle pulling and shutdown services.

Commenting on the acquisition, Joe Oatley CEO of Cape said:

"The acquisition of Redhall Engineering is in line with our strategy to broaden the Group's portfolio by adding adjacent services and will allow Cape to offer a broader range of maintenance services to our key clients within the UK. Redhall Engineering has a strong management team and a highly skilled workforce and I look forward to welcoming them into the Cape group"

And from the other side :-

Disposal of Redhall Engineering Solutions Limited ("RESL") to Cape plc and Strategy Update

Redhall Group plc (AIM: RHL), the specialist manufacturing and engineering services group, is pleased to announce progress in implementing its strategic plan and the disposal of RESL.

Highlights

· Disposal of engineering contracting subsidiary RESL to Cape plc for headline consideration of £6.0m
· Net debt reduction resulting from the sale of £5.0m after adjustments and transaction costs
· Continued focus on higher margin manufacturing capability particularly in nuclear and oil & gas markets
· Withdrawal from loss making site based nuclear contracting business
· Removal of the divisional management structure complete

JP Morgan Cazenove Neutral 246.00 246.00 203.00 256.00 Reiterates

Interim Results

Highlights

· Overall trading performance in line with expectation:

o UK, Europe & CIS region performed in line with expectation, with weakness resulting from the impact of the low oil price on the UK offshore market being offset by the benefits from recent acquisitions

o MENA region performed ahead of expectation, driven by strong operating margins across the region

o Asia Pacific region performed below expectation largely driven by lower than expected volumes and aggressive pricing in the Australian market

· Order intake during the first half increased by 26% to £399m (H1 2014: £317m)

· Order book £800m at period end (29 June 2014: £643m, 31 December 2014: £746m)

· Revenue increased by 13% to £362.6m (H1 2014: £320.3m)

· Adjusted operating profit increased by 8% to £24.9m (H1 2014: £23.0m) with adjusted operating margin decreasing by 30bps to 6.9%

· Period-end adjusted net debt of £131.3m (29 June 2014: £132.0m, 31 December 2014: £101.0m), driven by the seasonality of the UK
power market and the acquisition of Redhall Engineering Solutions Limited

· Adjusted diluted earnings per share from continuing operations was 13.0p (H1 2014: 12.8p)

· The Group has declared an interim dividend of 4.5p (H1 2014: 4.5p) per share

Numis Buy 227.63 303.00 285.00 Upgrades

Canaccord Genuity Buy 227.63 300.00 300.00 Reiterates

StockMarketWire.com
Cape, the international provider of critical industrial services to the energy and natural resources sectors, says trading from 6 July to 1 November was broadly in line with the board's expectations, despite challenging market conditions.

Cape says this has been driven by a relatively strong performance from the onshore UK and Australian businesses and lower than expected central costs, offsetting weakness in the offshore UK business and lower margins in the MENA business. Within the UK, Europe & CIS region the business has experienced weakening demand from the UK offshore sector resulting in reduced volumes and continued pressure on pricing. Activity from the downstream and general industrial market in the UK remains robust. Project and maintenance volume in Azerbaijan continues to be strong. Both project and maintenance volume in MENA remains solid for the region as a whole, although the business has seen some shutdown and project work delayed from the second half of 2015 into 2016. Project activity continues to be largely driven by the Kingdom of Saudi Arabia, with construction projects in Kuwait also now starting to move forward. During the last quarter, the MENA business has seen clients place an increasing focus on cost, with a resultant increase in pricing pressure across the region. Asia Pacific markets remain mixed, with LNG project activity in Australia continuing to increase, offsetting weakness from the mining sector. Project demand in Asia has remained at similar levels throughout the year and is anticipated to slow down in 2016 due to the timing of project completions before increasing in 2017, largely driven by project activity in Malaysia.

Looking ahead, Cape says the board is confident that the business is on track to deliver earnings per share in line with expectations for the year ending 31 December 2015.

StockMarketWire.com
Cape's revenues rose by 3% to GBP711.4m in the year to the end of December and adjusted operating profit increased to GBP52.5m (2014: GBP52.3m) which, it says, demonstrates the resilience of the business in challenging markets.

The international provider of critical support services to the energy and natural resources sector said adjusted operating profit margin fell slightly to 7.4% (2014: 7.6%) due to increasing market pricing pressures.

And it warns that market conditions are expected to continue to weaken through 2016 with a resultant pressure on margins

The full year dividend is maintained at 14.0p per share.

Chief executive Joe Oatley said:"Cape achieved a robust performance in 2015 despite the substantial challenges in the oil and gas industry, demonstrating the progress we have made in implementing our strategy. The results are a testament both to the dedication of all of the people at Cape and the progress we have made in making Cape into a strong and resilient business.

"We continue to develop our Operational Excellence programme and are also making progress across a number of our targeted areas for growth including both geographic and service line expansion. Whilst we anticipate that our markets will become tougher in 2016 and this is likely to put pressure on margins across our business, Cape is well positioned to navigate safely through these stormy waters and we remain committed to investing in our strategy which I believe will continue to deliver long term sustainable shareholder value."

StockMarketWire.com
Cape's overall trading for the first quarter was mixed with solid order intake and revenue, but lower than expected margins, a statement issued ahead of today's annual general meeting says.

But the board's expectations for the full year performance remain unchanged.

The group says its order book at the end of the first quarter was GBP862m (31 December 2015: GBP861m). Revenues developed positively as the Group benefited from favourable foreign exchange rate movements and a faster than expected ramp up on the Wheatstone project in Australia.

But the group experienced a greater downward pressure on margins than previously anticipated and, as a result, group operating profit was below expectations. The statement says: "Each of our regions delivered margins below previous expectations. Downward pressure on margins in the UK was largely driven by costs at the Fawley site continuing to run at a level higher than expected and lower utilisation of our specialist services in the North Sea. MENA margins were adversely impacted by delays in project initiation in Oman and pricing pressures in the UAE and Qatar. The KSA business has continued to perform strongly, with both volume and margin higher than expectations. The Asia Pacific business benefitted from a significant ramp up in revenues at Wheatstone which partly offset the adverse effect of project demobilisation costs and reduced volumes across many of the Asian businesses. "There have been no material developments in respect of the ongoing industrial disease insurer product liability litigation since the publication of the Group's 2015 Annual Report and Accounts."

Looking ahead, it says: "The UK North Sea and coal fired power station sectors are expected to continue to be challenging, with the downstream and general industrial markets remaining robust. Despite the overall weakness in the UK market, the UK business is expected to deliver some recovery in margins in the second half of the year due to a combination of improved contract performance and the benefit of a refocussing of the organisation, currently underway.

"Market conditions in the MENA region are expected to improve in the second half of the year with KSA continuing to be robust and increasing project activity in Oman and Kuwait offsetting ongoing weakness expected in Qatar and the UAE. As a result the region is expected to deliver a stronger revenue and margin performance in the second half of the year.

"Activity levels remain mixed across the Asia Pacific region with weakness in much of Asia mitigated by increasing activity levels from the LNG sector in particular in Australia. The region is expected to benefit from increased volume on the Wheatstone, KLE and Prelude projects offsetting lower volumes and utilisation across its Philippines, Thailand and Indonesian businesses. "The Board's expectations of the full year performance are unchanged; with a higher than usual weighting of earnings in the second half as the weaker first quarter is offset by increasing levels of activity during the year and the continuing benefit of current favourable foreign exchange rates."

Cape expects to announce its results for the half year ending 3 July 2016 on 23 August 2016.

This chart is a complete basket case. Bounced of 180p possibly on run up to Interim results on Tuesday. The trend is firmly down.

See how it opens on Monday for a trade north on the spreads, tight stop. Never know miracles could happen even if dead cat bounce. :0)

I bought back in last week, Chris. There is a lot of bad news baked into that share price. Nice yield which, must be about as safe as any paying 7% (:-0)

Fingers crossed LG :0)

Cape adjusted pre-tax profits fall

StockMarketWire.com

Cape, an international leader in the provision of critical industrial services to the energy and natural resources sectors, posts adjusted pre-tax profits of £14.9m for the six months to 3 July - 30% down on last time.

Revenue from continuing operations increased by 10% to £396.3 million (H1 2015: £359.5 million) of which 1% relates to foreign exchange movements, 3% from a full six month contribution from Cape Engineering Services and 6% from organic growth. The underlying increase of 6% was largely driven by increased volume from a number of projects in the Asia Pacific region. Adjusted operating profit from continuing operations decreased to £18.9 million (H1 2015: £25.1 million) primarily driven by margin reduction in the UK business, in particular for its specialist services offering for the offshore North Sea market and the poor commercial performance on the maintenance contract at the Fawley refinery. This reduction has been partially offset by:

- a 3% favourable translation impact of foreign exchange

- a 15% saving in central overheads due to favourable transaction impact of foreign exchange and changes to the group management structure.

Chief executive Joe Oatley said:"The first half results demonstrate the value of Cape's strategy of developing a balanced business across the maintenance and new construction segments with a broad geographical spread. Although we have seen a deterioration in a number of our markets, overall the Group has delivered solid top-line growth, highlighting the resilience of our business. We continue to invest in order to deliver on strategic goals whilst adapting our cost base where necessary to match market conditions. Despite the challenges in many of our markets, our expectation of the financial result for the full year is unchanged."

LATEST BROKER VIEWS

Date Broker New target Recomm.
23 Aug Numis 270.00 Buy
21 Jul Macquarie 170.00 Underperform
12 May Canaccord... 325.00 Buy
12 May JP Morgan... N/A Neutral
11 May Numis 270.00 Buy
21 Mar Canaccord... 325.00 Buy
18 Mar Macquarie 200.00 Underperform
17 Mar Investec 240.00 Hold
17 Mar JP Morgan... 240.00 Neutral
16 Mar Canaccord... 325.00 Buy
Broker Recommendations for Cape

LATEST BROKER VIEWS

Date Broker New target Recomm.
24 Aug JP Morgan... N/A Neutral
24 Aug Macquarie 180.00 Neutral
23 Aug Canaccord... 350.00 Buy
23 Aug Numis 270.00 Buy
21 Jul Macquarie 170.00 Underperform
12 May Canaccord... 325.00 Buy
12 May JP Morgan... N/A Neutral
11 May Numis 270.00 Buy
21 Mar Canaccord... 325.00 Buy
18 Mar Macquarie 200.00 Underperform
Broker Recommendations for Cape

Who would have thought a week ago this chart was a basket case. Look at it now LOL!!!

The only game in town, look at charts similar but are reporting one week two weeks time, even. Cash machines as as a trader.

Bought back in here in August at 192. For yield mainly, but it turns out that my timing couldn't have been much better. Onwards and upwards.

Bought some at below 144.75p

Rising with volume, has been on a downtrend since last month 180p support and after the pause is moving higher with volume now.

Some large trades early on the morning has got the share moving and still holding now despite a bit of retracement from 147p

The volume is large today and the Indicators are all positive as are at oversold but the best is the MACD crossing over "0" and divergence at the same time so bullish

15 minutes delay chart

Manipulation by the end of the day, wonder by who, the order book went very weak all of the sudden despite good size buys and even later once again shortly before the close there was some good size buying all paying premium to offer price, so at the end of the day was not strange, the UT was 1p higher than the closing spread.

6.5K @ 143.50 UT

BREAKOUT

151.75p +2p

A couple of large trades at 150p resistance point has finally done the job and share price has moved forward

StockMarketWire.com
Cape expects 2016 results to be ahead of market forecasts and has announced the award of additional work packages on the Chevron-operated Wheatstone natural gas project, near Onslow, Western Australia.

The group said it experienced strong trading across its three regional businesses during the last two months of the year, with a particularly strong performance in Asia Pacific driven by high levels of project activity across the region.

As a result, the board now anticipates that the full year performance for 2016 will be materially ahead of current market expectations.

This improvement in performance is supported by strong cash generation with a consequent positive impact on net debt. As previously disclosed, the board remains confident that the outlook for 2017 is encouraging. Cape expects to announce its audited results for the full year ending 31 December 2016 on 15 March.

Cape also announced the award of additional work packages on the Chevron-operated Wheatstone natural gas project, near Onslow, Western Australia. Cape is now providing Access, Painting, Insulation and Fire Proofing services to the project until completion.

The additional packages will see Cape extending its scope of services to include outside battery limits (OSBL), the Domestic Gas Plant and commissioning support.

This follows the delivery of its existing contracted scope across the LNG trains inside the battery limits (ISBL). The award reflects the Group's performance on the contract to date, including safety (over 2 million man hours to date Lost Time Incident free), operational excellence, innovation in project management and cost savings through productivity and workforce management.

One of my new year buys!

There was a reason for the breakout and large trading yesterday, news were around of today's delivery of such a good news.

On the chart now the next target is 220p and still will be very cheap

Malc's has a Positive posting today after the news.........

The Oil Man: Oil price -By Malcolm Graham-Wood | 5th January 2017 - 12:20

Cape (CIU) clearly put the burners on at the end of November, I have just re-read the trading statement of 18 November in which trading was described as being "slightly ahead of expectations". According to today's update trading is now expected to be "materially ahead of expectations" due to "Additional work scope awarded at the Chevron-operated Wheatstone natural gas project" and to be fair a strong performance in Asia-Pacific.

The company has also felt able to say that: "This improvement in performance is supported by strong cash generation with a consequent positive impact on net debt". Only the good lord knows what might have happened by the time of the results which are coming out during the Cheltenham Festival.

Cape remains one of my top picks, like most followers I was rather put off by the announcement about the insurer PL industrial disease claims situation, which appeared to worsen last year and the company had to admit that the worst case scenario might threaten the divi - there is nothing in today's release about this.

If one can put that to one side it is clear that the excellent management team continues to deliver and then some and in what has been a difficult environment has come through with flying colours.

Canaccord Genuity Speculative Buy 179.00 220.00 230.00 Retains

Numis Buy 174.50 270.00 270.00 Reiterates

Henderson Group plc > 5%

179.25p +0.75p

An RNS from Henderson

from Below 5%
to 6,647,889 - 5.48% on the 5th January 17

KSA Contract Amendment Award - Daewoo awards an amendment for scaffold Subcontract for Jazan Project.

Cape plc (CIU.LN), an international leader in the provision of critical industrial services to the energy and natural resources sectors, is pleased to announce that its Saudi Arabia operations have received a scaffold contract amendment to provide for an increased scope of 107,000 sqm of suspended scaffold and 182,000 cum tower scaffold with an extended hire term for their Jazan project.

Saudi Aramco's Jazan Refinery and Terminal (JRTP) is being constructed on the southern coast of the Red Sea and coastal part of the City of Bish. The refinery will cover an area of 12km² and will process 400,000 barrels per day of Arabian Heavy and Arabian Medium crudes to produce 80 million barrels per day of gasoline, 250 million barrels per day of diesel and more than one million tons per annum of benzene and Para xylene petrochemical products.

Daewoo E&C's plant construction projects are delivering a major role along with JGC in JRTP for Saudi Aramco.

Cape, which operates as Cape RB Hilton in Saudi Arabia, has developed a successful relationship with Daewoo in delivering the original scope and is delighted to secure this amendment award and strengthen the business ties of both organisations.

Paul Cockerill, Managing Director KSA & Bahrain commented: "This subcontract amendment award is an important win for Cape RB Hilton and firming up our service offering with Daewoo E&C. It is the result of commitment to deliver a safe and reliable service to our customer. This increase in value of existing ongoing work plays a key share for our revenue in 2017."

SOLD at 178p as is going nowhere for the last couple of weeks and is now on on the overbought territory

a gain of 33.25p or 23% on 35 days

Product Liability and IDC Update

Update on the chart in post 104.

Employer liability litigation settlement

Cape plc (CIU.LN), an international leader in the provision of critical industrial services to the energy and natural resources sectors, today issues the following industrial disease claim update.

The Company has previously disclosed that it has been involved in litigation with Aviva plc ("Aviva") in relation to historic insurer employer liability claims ("Insurer EL Claims"). Following the settlement of the insurer product liability claims that was announced on 13 March 2017, Cape announces that the Insurer EL Claims have been settled, with the current claims being withdrawn with no admission of liability and each party bearing their own legal costs.

Notwithstanding the Board's continued belief in the strength of its position in relation to the trial conducted in January and February 2017 and in respect of the issues to be heard at the Court of Appeal in July 2017, and thus its recovery of all legal expenses incurred, the Board has concluded that it is in the best interests of Cape and its shareholders to settle this litigation. The settlement does not require any cash consideration to be payable by the Company and will require no material change in the existing IDC provision of £172.5m as at 31 December 2016.

Contract awards and trading update

Cape plc (CIU.LN), an international leader in the provision of critical industrial services to the energy and natural resources sectors, is pleased to announce the award of strategic contracts in Australia and the UK and an update to the Group's outlook.

Australian LNG insulation award on the Ichthys project

Cape's Australian subsidiary, Cape Australia Onshore Pty Ltd, has secured a contract with JKC Australia LNG Pty Ltd (JKC) for the provision of insulation and coatings services for the Ichthys Project Onshore LNG Facilities in Darwin, Australia.

This initial contract is expected to commence in the second quarter of 2017, with the majority of activity expected to take place in the second half of the year.

UK North Sea contract award from BP

Cape Industrial Services Limited has secured two contracts to extend the Group's longstanding relationship with BP in the UK North Sea for a further three years. These contracts have a combined estimated value in excess of
£150 million.

The contracts, which have been effective from 1 January 2017, secure 400 core jobs for Cape employees in the North Sea as we provide Storage Tank Services, Industrial Cleaning, Heat Exchanger, Access, Insulation and Coating Services, along with General Operatives across BP's upstream and midstream assets. This award follows an extensive process conducted by BP, consolidating the various services provided by Cape over recent years under one delivery team and enabling Cape to drive sustainable efficiency improvements through economies of scale, reduced interfaces and additional cost savings.

Outlook

The Group continues to trade strongly and, with the additional benefit of the Ichthys award, the Board now expects that the Group's full year performance for 2017 will be materially ahead of its previous expectations. The Board anticipates that 2018 will be a more challenging year, driven by the expected reduction in volume from the current high level of construction activity in Asia Pacific and the effect of project delays and margin pressures in the Middle East.

Cape expects to announce its results for the half year ending 2 July 2017 on 22 August 2017.

− End −

https://www.moneyam.com/action/news/showArticle?id=5581827

Agreed takeover at 265p, H

StockMarketWire.com
Cape has reported a strong trading performance and financial results in the six months to 2 July in challenging market conditions.

Revenues from continuing operations rose by 46.8% to £581.9m and adjusted operating profits were up 125.9% at £42.7m.

On a statutory basis, operating profits rose by 452.9% to £37.6m and pre-tax profits were up 2,250.0% at £32.9m.

Chief executive Joe Oatley said: "The group has delivered a very strong operational and financial performance in the period.

"Revenue, operating profit, margins and cash conversion have all improved, reflecting operational excellence in the delivery of key projects in Australia and South Korea, and effective management of the Group's working capital.

"The Group was also successful in securing strategic contract wins in the UK, with the renewal of the long-term maintenance contract with BP, and in Australia, with the award of an initial contract at the Ichthys onshore LNG project.

"The goard's expectation for the Group's full year performance remains unchanged with the anticipated reduction in construction related activities in Asia Pacific resulting in the Group's earnings being strongly weighted towards the first half of 2017.

"The board continues to anticipate that 2018 will be a more challenging year, driven by the expected reduction in volume from the current high level of construction activity in Asia Pacific and the effect of project delays and margin pressures in the Middle East."