| Home | Log In | Register | Our Services | My Account | Contact | Help |
You are NOT currently logged in
Register now or login to post to this thread.
CAPE plc, Another Steady Riser Worth Having A look At. (CIU)
goldfinger
- 31 Aug 2004 15:37
Cape plc is an industrial services business that as divisions in predominantly, building, scaffolding and insulation. It carries its busines out both here and abroad and is slowly but surely regenerating itself into a market leader and throwing off its old boring industrial image.
In a recent trading update on the 22/6/2004 it had several positive points that it announced at its AGM.
The chairman Martin May said,
'I am pleased to report that at the end of the first five months of trading, the
Company is ahead of budget and like-for-like sales show an encouraging increase
year on year.
Sales remain strong across most of the Company's activities with a healthy order
book to the year end in line with normal business expectations. Results from
the Company's offshore business have been particularly strong. Outside the UK,
CIS has experienced a number of accelerated contract start dates during the
first five months of trading and therefore turnover growth is expected to
balance itself during the second half of the year.
CIS continues to enjoy a strong position in most of the markets in which it
operates and since the beginning of the year, has been awarded a number of new
contracts both in the UK and internationally. In the UK, CIS is providing a
range of services on the 'Golden Eye' project offshore at St Fergus and
Mossmorran, and was awarded two three year onshore maintenance contracts for
industrial cleaning services and the provision of scaffolding and access
equipment at 'Didcot A Power Station'.
In the Middle East, CIS has been awarded a $6 million contract with Consolidated
Contractors Company for insulation work at Muscat, strengthening the Company's
leading position as a provider of insulation services in Oman. In Qatar, a
market where CIS has identified a number of new opportunities, CIS was awarded a
three year maintenance contract at Dukhan for Qatar Petroleum. Whilst still
taking advantage of further major project work, CIS continues to grow its
presence in higher-margin maintenance work on scaffolding and insulation
contracts, which now contributes about 60% of profitability in this region. ENDS.
Very encouraging news indeed.
Then if we look back at the last results we find that the company had an excelent trading period and also settled the ongoing litigation it had with the South African and UK shipyards something which in the past held this ones share price back.
FINANCIAL HIGHLIGHTS
Cape Industrial Services turnover(1) up 19.1% to 228.3m (2002: 191.7m)
Cape Industrial Services operating profit(1) up 8.7% to 10m (2002: 9.2m)
Group turnover(1) of 231.9m (2002: 224.8m)
Group operating profit from continuing operations(1) was 3.5m
(2002: 15.6m)
Group operating profit from continuing operations(1)(2) up 32.7% to
7.3m (2002: 5.5m)
Year end net debt reduced to 5.4m (2002: 19.3m)
(1) including its share of continuing joint ventures
(2) before compensation for industrial disease costs of 3.8m (2002: credit
of 10.1m)
OPERATIONAL HIGHLIGHTS
Settlement of South African and UK shipyards asbestos litigation
Group restructuring fundamentally complete
New project wins in UK and Middle East
Key objectives set following strategic review
KEY FUNDIES
.Market cap circa of 55 million
.P/E historic of circa 7.3
.Forward P/E of 6.8
.Gearing approx net cash -5 to -6million
I beleive results to be out late september, buying in now could be very worthwhile.
Please DYOR.
cheers GF.
In a recent trading update on the 22/6/2004 it had several positive points that it announced at its AGM.
The chairman Martin May said,
'I am pleased to report that at the end of the first five months of trading, the
Company is ahead of budget and like-for-like sales show an encouraging increase
year on year.
Sales remain strong across most of the Company's activities with a healthy order
book to the year end in line with normal business expectations. Results from
the Company's offshore business have been particularly strong. Outside the UK,
CIS has experienced a number of accelerated contract start dates during the
first five months of trading and therefore turnover growth is expected to
balance itself during the second half of the year.
CIS continues to enjoy a strong position in most of the markets in which it
operates and since the beginning of the year, has been awarded a number of new
contracts both in the UK and internationally. In the UK, CIS is providing a
range of services on the 'Golden Eye' project offshore at St Fergus and
Mossmorran, and was awarded two three year onshore maintenance contracts for
industrial cleaning services and the provision of scaffolding and access
equipment at 'Didcot A Power Station'.
In the Middle East, CIS has been awarded a $6 million contract with Consolidated
Contractors Company for insulation work at Muscat, strengthening the Company's
leading position as a provider of insulation services in Oman. In Qatar, a
market where CIS has identified a number of new opportunities, CIS was awarded a
three year maintenance contract at Dukhan for Qatar Petroleum. Whilst still
taking advantage of further major project work, CIS continues to grow its
presence in higher-margin maintenance work on scaffolding and insulation
contracts, which now contributes about 60% of profitability in this region. ENDS.
Very encouraging news indeed.
Then if we look back at the last results we find that the company had an excelent trading period and also settled the ongoing litigation it had with the South African and UK shipyards something which in the past held this ones share price back.
FINANCIAL HIGHLIGHTS
Cape Industrial Services turnover(1) up 19.1% to 228.3m (2002: 191.7m)
Cape Industrial Services operating profit(1) up 8.7% to 10m (2002: 9.2m)
Group turnover(1) of 231.9m (2002: 224.8m)
Group operating profit from continuing operations(1) was 3.5m
(2002: 15.6m)
Group operating profit from continuing operations(1)(2) up 32.7% to
7.3m (2002: 5.5m)
Year end net debt reduced to 5.4m (2002: 19.3m)
(1) including its share of continuing joint ventures
(2) before compensation for industrial disease costs of 3.8m (2002: credit
of 10.1m)
OPERATIONAL HIGHLIGHTS
Settlement of South African and UK shipyards asbestos litigation
Group restructuring fundamentally complete
New project wins in UK and Middle East
Key objectives set following strategic review
KEY FUNDIES
.Market cap circa of 55 million
.P/E historic of circa 7.3
.Forward P/E of 6.8
.Gearing approx net cash -5 to -6million
I beleive results to be out late september, buying in now could be very worthwhile.
Please DYOR.
cheers GF.
goldfinger
- 31 Aug 2004 15:43
- 2 of 346
For the TA investors. Chart shows the nice steady rise in price I like in a share.
cheers GF.
cheers GF.
goldfinger
- 31 Aug 2004 20:35
- 3 of 346
Just found the last Evolution Beeson Gregory BUY note on this stock, 1/7/2004, I beleive there will be a new one out after results late September...........
Cape (CIU) Buy (unchanged)
Mkt cap: 52m Net cash: -5m AGM Price/Target: 97p/115p
Positive trends continue.
Trading in the first five months of the year is strong. Capes Offshore
business in the UK is performing well. In addition, the groups forward
order book is building both in the UK and Overseas.
At last weeks AGM, Cape announced that trading in the first five moves the
year was strong, with positive like-for-like sales growth. Activity across
most of the group is healthy, with significant contract gains secured both
within the UK and overseas. As a consequence the forward order book is
trending higher, obviously building the future earnings potential.
Within the UK operation, the Offshore business has been particularly strong.
For example, CIS has been contracted to provide a range of services on the
Golden Eye project offshore at St Fergus and Mossmorran. We believe the
current prospects for the offshore business are positive, the high average oil
price is providing oil companies strong cash flow to raise capital expenditure
spend on their offshore platforms.
The forward order book is also building elsewhere in the group. For
example, in the UK two three-year contracts for industrial cleaning and
scaffolding have been won at Didcot A Power Station. This progress shows
that whilst the UK market for industrial services is mature, there are still
opportunities for the business to grow. Until now the core CIS operation
had insufficient capital to expand. This highlights how the improved
financial position of the group is being translated into higher organic
growth.
Overseas CIS has been awarded a $6m contract to provide insulation services
in Oman. In Qatar it has been awarded a three-year maintenance contract at
Dukhan. This contract reflects the how the overseas business is developing
in terms of both scale and scope.
Year end Sales (m) EBITDA (m) PTP (m) EPS (p) PER (x) Yield (%) EV/EBITDA (x) Revised?
12/02A 191.7 11.3 6.1 10.7 9.1 0.3 5.0
12/03A 217.4 13.1 6.8 13.3 7.3 0.3 4.4
12/04E 230.0 15.1 9.4 14.2 6.8 0.2 3.8
Cape is clearly performing ahead of plan and we will be reviewing both our
revenue and earnings forecasts when the company reports its interim results
in September.
cheers GF
Cape (CIU) Buy (unchanged)
Mkt cap: 52m Net cash: -5m AGM Price/Target: 97p/115p
Positive trends continue.
Trading in the first five months of the year is strong. Capes Offshore
business in the UK is performing well. In addition, the groups forward
order book is building both in the UK and Overseas.
At last weeks AGM, Cape announced that trading in the first five moves the
year was strong, with positive like-for-like sales growth. Activity across
most of the group is healthy, with significant contract gains secured both
within the UK and overseas. As a consequence the forward order book is
trending higher, obviously building the future earnings potential.
Within the UK operation, the Offshore business has been particularly strong.
For example, CIS has been contracted to provide a range of services on the
Golden Eye project offshore at St Fergus and Mossmorran. We believe the
current prospects for the offshore business are positive, the high average oil
price is providing oil companies strong cash flow to raise capital expenditure
spend on their offshore platforms.
The forward order book is also building elsewhere in the group. For
example, in the UK two three-year contracts for industrial cleaning and
scaffolding have been won at Didcot A Power Station. This progress shows
that whilst the UK market for industrial services is mature, there are still
opportunities for the business to grow. Until now the core CIS operation
had insufficient capital to expand. This highlights how the improved
financial position of the group is being translated into higher organic
growth.
Overseas CIS has been awarded a $6m contract to provide insulation services
in Oman. In Qatar it has been awarded a three-year maintenance contract at
Dukhan. This contract reflects the how the overseas business is developing
in terms of both scale and scope.
Year end Sales (m) EBITDA (m) PTP (m) EPS (p) PER (x) Yield (%) EV/EBITDA (x) Revised?
12/02A 191.7 11.3 6.1 10.7 9.1 0.3 5.0
12/03A 217.4 13.1 6.8 13.3 7.3 0.3 4.4
12/04E 230.0 15.1 9.4 14.2 6.8 0.2 3.8
Cape is clearly performing ahead of plan and we will be reviewing both our
revenue and earnings forecasts when the company reports its interim results
in September.
cheers GF
goldfinger
- 31 Aug 2004 23:53
- 4 of 346
Hopefully we will move north in the morning.
cheers GF.
cheers GF.
WOODIE - 01 Sep 2004 07:14 - 5 of 346
gf nice pick dont you think most of the gains have already been done ie 100% in a year cant see this happening now ie,didnt read your posts thoughly but i dont think you mentioned the big contracts that they have tendered for,more news should be in the results by the way i hold these shares showing over 100% rise since last year i intend to hold for long term the other thing you did not write is that it is listed on aim so any gains if held for long term will be tax free.cheers woodie
goldfinger
- 01 Sep 2004 11:00
- 6 of 346
Although down slightly today woodie I expect these to just keep running and running north, nothing spectacular and I feel you are right we will get news of new contracts within the results statement.
Well done on yor investment so far but I think theres far more to come especially on the lowly forecast P/E for 2005.
cheers GF.
Well done on yor investment so far but I think theres far more to come especially on the lowly forecast P/E for 2005.
cheers GF.
WOODIE - 01 Sep 2004 11:38 - 7 of 346
gf i put these in the same bracket as asos any dips are buying opportunities,agree with you more upside to come that is why iam not considering selling at the moment.cheers woodie
goldfinger
- 01 Sep 2004 11:48
- 8 of 346
Trouble is Woodie you normally find a lot of investors usually find companies like this boring, but as Peter lynch the great US fund manger says the more boring the better.
Rather be in a slow climber than a 'jack in a box' share.
cheers GF.ps, might add a few more.
Rather be in a slow climber than a 'jack in a box' share.
cheers GF.ps, might add a few more.
WOODIE - 01 Sep 2004 13:08 - 9 of 346
gf you wont go wrong buying at this level the upside will gather pace when co returns to divi list which i expect in the next year.as you said boring but my sort of stock not living on fantasy cash co.cheers woodie
goldfinger
- 01 Sep 2004 13:15
- 10 of 346
Well said Woodie I like it.
cheers Gf.
cheers Gf.
goldfinger
- 02 Sep 2004 12:42
- 11 of 346
Buyers starting to return after profit taking.
cheers GF.
cheers GF.
goldfinger
- 03 Sep 2004 11:23
- 12 of 346
No move up in price yet but I expect one.
cheers Gf.
cheers Gf.
goldfinger
- 03 Sep 2004 11:24
- 13 of 346
KEY FUNDIES
.Market cap circa of 55 million
.P/E historic of circa 7.3
.Forward P/E of 6.8
.Gearing approx net cash -5 to -6million
I beleive results to be out late september, buying in now could be very worthwhile.
cheers Gf
.Market cap circa of 55 million
.P/E historic of circa 7.3
.Forward P/E of 6.8
.Gearing approx net cash -5 to -6million
I beleive results to be out late september, buying in now could be very worthwhile.
cheers Gf
WOODIE - 03 Sep 2004 12:13 - 14 of 346
gf just received my copy of shares a exclusive piece on cape page 29 which states big contract should be signed soon no i didnt write the piece as i posted this early in the week.agree with you price will move up on positive news which wont be that long in coming.cheers woodie
goldfinger
- 03 Sep 2004 12:26
- 15 of 346
Thanks for that Woodie, will have to get a copy.
cheers Gf.
cheers Gf.
WOODIE - 03 Sep 2004 12:39 - 16 of 346
gf no new news in it save your money apart from the deal is worth 60 million pound being the largest single deal the co has done.if they get contract will be of japan.the rest of article is already known in market ie co cheap still not overvalued.cheers woodie
goldfinger
- 06 Sep 2004 11:17
- 17 of 346
Up 6p this morning and buyers returning. Is way undervalued.
cheers Gf.
cheers Gf.
WOODIE - 06 Sep 2004 16:19 - 18 of 346
gf looks like it is just you and me that want to make easy money as noone else seems intersted in this stock.cheers woodie
goldfinger
- 06 Sep 2004 21:06
- 19 of 346
I think they will over the comming weeks woodie. A very good day with some nice volume. Way undervalued.
cheers GF.
cheers GF.
goldfinger
- 07 Sep 2004 00:20
- 20 of 346
52 week high hit today aswell and trading on a historic p/e of just over 7 falling down to concensus broker figure of forward P/E of just over 6.
Excellent value.
cheers GF.
Excellent value.
cheers GF.
WOODIE - 07 Sep 2004 06:55 - 21 of 346
gf its been hitting 52 week highs all this year thats when i topped up,disappointing that it is just me and you after all the trouble you went to,there loss, if you see the threads on this board that are well posted ie epo etq tad are all duff stocks,most are lossing money.expect another leg up when deal is announced.cheers woodie
goldfinger
- 07 Sep 2004 10:27
- 22 of 346
Poor start to the day Woodie but when due day for results are announced I expect these to motor.
cheers Gf.
cheers Gf.
WOODIE - 07 Sep 2004 15:35 - 23 of 346
gf cant find telephone no for co,was going to ring for date if known for results any ideas.cheers woodie ps not much selling on down day which is positive.
goldfinger
- 09 Sep 2004 09:56
- 24 of 346
Strong TA wshowing share price above long term and short term moving average.
cheers GF.
cheers GF.
WOODIE - 09 Sep 2004 10:11 - 25 of 346
gf spoke to co the other day waiting for email with date of results will let you know if it is before rns statement with date.cheers woodie
goldfinger
- 09 Sep 2004 10:31
- 26 of 346
Many thanks woodie.
cheers Gf
cheers Gf
goldfinger
- 12 Sep 2004 23:21
- 27 of 346
Its about time you got tuned into this one.
By all means leave me and woodie to take the returns.
No bother.
cheers GF.
By all means leave me and woodie to take the returns.
No bother.
cheers GF.
goldfinger
- 16 Sep 2004 11:14
- 28 of 346
Up nicely this morning.
Cape PLC
16 September 2004
Cape Plc
16 September 2004
CAPE PLC
NOTICE OF RESULTS
Cape plc, the international industrial services business, will be announcing its
interim results for the six months to 30 June 2004 on Thursday, 23 September
2004.
For further information, please contact:
Bell Pottinger Corporate & Financial
Nick Lambert 020 7861 3232 /
nlambert@bell-pottinger.co.uk
cheers Gf.
Cape PLC
16 September 2004
Cape Plc
16 September 2004
CAPE PLC
NOTICE OF RESULTS
Cape plc, the international industrial services business, will be announcing its
interim results for the six months to 30 June 2004 on Thursday, 23 September
2004.
For further information, please contact:
Bell Pottinger Corporate & Financial
Nick Lambert 020 7861 3232 /
nlambert@bell-pottinger.co.uk
cheers Gf.
WOODIE - 16 Sep 2004 12:40 - 29 of 346
gf still have not received email from co poor showing good job share price is not the same.i expect a strong run up.cheers woodie
goldfinger
- 16 Sep 2004 22:14
- 30 of 346
Well done Woodie.
cheers Gf , lets keep this one quiet.
Cheers GF.
cheers Gf , lets keep this one quiet.
Cheers GF.
goldfinger
- 17 Sep 2004 00:14
- 31 of 346
Some big buy volumes for this one today.
cheers GF.
cheers GF.
WOODIE - 17 Sep 2004 06:41 - 32 of 346
gf just cant understand lack of interest in this one still looks like easy money as i said before when comes back to divi list which i expect in the next year share price should be higher then it is now.cheers woodie
goldfinger
- 19 Sep 2004 20:36
- 33 of 346
I agree Woodie, m ight be the type that takes off on results this week.
cheers GF.
cheers GF.
goldfinger
- 20 Sep 2004 10:21
- 34 of 346
Starting to attract volume on the run up to results.
cheers GF.
cheers GF.
goldfinger
- 23 Sep 2004 13:44
- 35 of 346
Excelent results from Cape...........................
Cape PLC
23 September 2004
Cape plc
Interim Results for the Six Months Ended 30 June 2004
Highlights
Financial highlights
Group profit before tax 1.7m (2003: loss of 0.1m)
Group operating profit from continuing operations1 up to 1.5m (2003:
0.1m)
Basic earnings per share 2.1p (2003: loss of 0.2p)
Group turnover(1) up 7.1% to 112.9m (2003: 105.4m)
Cape Industrial Services operating profit1 up 5.6% to 3.8m (2003:
3.6m)
Cape Industrial Services performing ahead of budget
Business highlights
Order book remains strong
Significant contract wins in UK and Overseas
Head office costs more than halved
Further information:
Cape Plc
Martin May, Chairman (01924) 876 301
Bell Pottinger Corporate & Financial
Nick Lambert (020) 7861 3936 / (07811) 358 764
cheers Gf.
Cape PLC
23 September 2004
Cape plc
Interim Results for the Six Months Ended 30 June 2004
Highlights
Financial highlights
Group profit before tax 1.7m (2003: loss of 0.1m)
Group operating profit from continuing operations1 up to 1.5m (2003:
0.1m)
Basic earnings per share 2.1p (2003: loss of 0.2p)
Group turnover(1) up 7.1% to 112.9m (2003: 105.4m)
Cape Industrial Services operating profit1 up 5.6% to 3.8m (2003:
3.6m)
Cape Industrial Services performing ahead of budget
Business highlights
Order book remains strong
Significant contract wins in UK and Overseas
Head office costs more than halved
Further information:
Cape Plc
Martin May, Chairman (01924) 876 301
Bell Pottinger Corporate & Financial
Nick Lambert (020) 7861 3936 / (07811) 358 764
cheers Gf.
Realistic - 09 Nov 2004 15:24 - 36 of 346
Another 4p today,this share never really looks back.Is there any truth in the whisper that there is a bid out there at 160p?
goldfinger
- 09 Nov 2004 23:11
- 37 of 346
Moving nicely up, but patience as been required.
cheers GF.
cheers GF.
WOODIE - 10 Nov 2004 06:40 - 38 of 346
1.60 would not accept bid if one is around values co to cheap on a 1 to 2 year view.cheers woodie
WOODIE - 25 Nov 2004 16:40 - 39 of 346
gf not sure if you have seen todays shares target price is 2 pound over the next 18 months i will be disappointed if it does not reach this price before then.cheers woodie
WOODIE - 07 Jan 2005 12:45 - 40 of 346
goldfinger do you still hold,fresh 52 week highs set today,strong vol.any ideas why increase today.cheers woodie
Realistic - 21 Jan 2005 07:59 - 41 of 346
If only there were more companies like this. A good trading statement out this morning. There is bound to be good press comment over the wekend.Look at the graph, this share has more than doubled over the past year.It has been a better bet than the companies with loads of posts on this BB like TAD, HCEG EPO PET etc
Fred1new
- 21 Jan 2005 14:20
- 42 of 346
BOught this am before seeing this thread. Looking back at results adn charts it would seem a reasonable bet.
WOODIE - 21 Jan 2005 15:37 - 43 of 346
fred,uptrend been in place for awhile still growing profits you can sleep easy at nights with this one.if it is a bet only one way it is going at the moment
brain2brain
- 05 Mar 2005 18:19
- 44 of 346
I can't believe I haven't spotted these before now. What a graph!! I have been in Tops Tiles for some time and got good steady growth from them. At present they are treading water. I think that these will be an excellent substitute. Average of 10% per month will do me fine.
Cheers
B2B
Cheers
B2B
WOODIE - 05 Mar 2005 19:20 - 45 of 346
brian see my post no 42 still one way bet results out in a couple of weeks uptrend to continue.cheers woodie
brain2brain
- 05 Mar 2005 19:30
- 46 of 346
Many thanks woodie. Will do some research over the next 24 hours but this does look good. Any further thoughts most welcome.
B2B
B2B
brain2brain
- 10 May 2005 18:41
- 47 of 346
Anyone any idea why these have dropped so much?
B2B
B2B
Fred1new
- 10 May 2005 22:02
- 48 of 346
b2b I sold this at 160 havig bought at 161p. Noticed it had dropped out of its channel. Also just looked at the graph and noticed a gap formed with slight rise in volume on the 5/5/2005 also the bars look miserable for last few days. I think that more will be dumped tomorrow with price dropping. If I held I think I would dump but I am often wrong and it is easier to make decisions when youu are not holding.
Fred1new
- 11 May 2005 11:03
- 49 of 346
Had a look at this share again this am. Interesting Market Maker to MM small exchange and rest of deals seem sells, but price up on extremely small volumes.
I wonder what is going on!
I wonder what is going on!
hlyeo98 - 11 Nov 2006 13:18 - 50 of 346
Cape PLC
07 November 2006
Cape PLC
('Cape' or the 'Company')
Contract win
Cape PLC (AIM:CIU) the international provider of essential support services to
the energy sector, is pleased to announce a significant new contract award on
the South Hook LNG terminal in Milford Haven.
The contract to provide the common user access service for the construction of
the main process unit on phase 1 of the South Hook LNG Terminal, has now
commenced and is due to be completed by the winter of 2007/8. It complements
other work already won on the site by Cape, including the installation of the
cryogenically insulated bases of the five giant LNG storage tanks.
Situated in a natural deepwater harbour easily accessed by large LNG tankers,
the South Hook terminal will have the capacity to meet some 20% of the UK's
current gas consumption. The facility will be owned and operated by South Hook
LNG Terminal Company Ltd which is a joint venture between subsidiaries of Qatar
Petroleum (70%) and Exxon Mobil Corporation (30%). The contract has been placed
with Cape through the main Engineering Procurement and Construction contractor
for the South Hook project, CB&I John Brown Limited.
Martin May Cape's Chief Executive, said, 'We are delighted to have been awarded
another contract on this prestigious project and to have the opportunity to
build on the excellent relationship we already have with Qatar Petroleum and
Exxon Mobil in the Middle East.'
ENDS
For further information, please contact:
Cape PLC
Martin May, Chief Executive +44 (0)1924 876 276
Bell Pottinger Corporate & Financial
Nick Lambert +44 (0)20 7861 3232 /
+44 (0)7811 358 764
Notes to editors
Cape PLC is the parent company of a number of service providing organizations
operating primarily in the oil and gas, petrochemical and power generation
industries.
In the year to 31 December 2005, Cape reported turnover of c. 261.8 million and
it currently employs c. 7,700 people in 23 countries worldwide.
Cape specialises in the provision of scaffolding, insulation, fire protection,
specialist cleaning and other essential services to major industrial clients in
the energy sector. Cape's ability to provide specialist cleaning services was
enhanced by the acquisition of DBI Group Limited in October 2006.
In the UK, Cape operates as Cape Hire, Cape Security, DBI Onshore Services and
DBI Offshore Services. Cape also operates in Bahrain and Saudi Arabia under the
name RB Hilton.
07 November 2006
Cape PLC
('Cape' or the 'Company')
Contract win
Cape PLC (AIM:CIU) the international provider of essential support services to
the energy sector, is pleased to announce a significant new contract award on
the South Hook LNG terminal in Milford Haven.
The contract to provide the common user access service for the construction of
the main process unit on phase 1 of the South Hook LNG Terminal, has now
commenced and is due to be completed by the winter of 2007/8. It complements
other work already won on the site by Cape, including the installation of the
cryogenically insulated bases of the five giant LNG storage tanks.
Situated in a natural deepwater harbour easily accessed by large LNG tankers,
the South Hook terminal will have the capacity to meet some 20% of the UK's
current gas consumption. The facility will be owned and operated by South Hook
LNG Terminal Company Ltd which is a joint venture between subsidiaries of Qatar
Petroleum (70%) and Exxon Mobil Corporation (30%). The contract has been placed
with Cape through the main Engineering Procurement and Construction contractor
for the South Hook project, CB&I John Brown Limited.
Martin May Cape's Chief Executive, said, 'We are delighted to have been awarded
another contract on this prestigious project and to have the opportunity to
build on the excellent relationship we already have with Qatar Petroleum and
Exxon Mobil in the Middle East.'
ENDS
For further information, please contact:
Cape PLC
Martin May, Chief Executive +44 (0)1924 876 276
Bell Pottinger Corporate & Financial
Nick Lambert +44 (0)20 7861 3232 /
+44 (0)7811 358 764
Notes to editors
Cape PLC is the parent company of a number of service providing organizations
operating primarily in the oil and gas, petrochemical and power generation
industries.
In the year to 31 December 2005, Cape reported turnover of c. 261.8 million and
it currently employs c. 7,700 people in 23 countries worldwide.
Cape specialises in the provision of scaffolding, insulation, fire protection,
specialist cleaning and other essential services to major industrial clients in
the energy sector. Cape's ability to provide specialist cleaning services was
enhanced by the acquisition of DBI Group Limited in October 2006.
In the UK, Cape operates as Cape Hire, Cape Security, DBI Onshore Services and
DBI Offshore Services. Cape also operates in Bahrain and Saudi Arabia under the
name RB Hilton.
hlyeo98 - 04 Jan 2008 12:29 - 51 of 346
Cape PLC
04 January 2008
Cape PLC
('Cape', the 'Group' or the 'Company')
Pre-Close Trading Update and Appointment of Nominated Adviser
Cape (AIM: CIU), the international provider of essential support services to the energy and natural resources sectors, is pleased to announce its pre-close trading update ahead of the preliminary results for the year ended 31 December 2007, due to be released on 19 March 2008.
Following a record level of activity in the first half of 2007, trading across all of the Group's operations has continued to be as strong with progress made in all key market sectors. Sales in each of the regional business units have grown significantly year on year with each performing well ahead of expectations. All three of Cape's acquisitions in Australia are expected to make a positive contribution to the 2007 results.
On 26 November 2007, Cape announced that its offer for PCH had been declared unconditional. The offer closed on 20 December 2007. Cape has issued compulsory acquisition notices to holders of all outstanding PCH shares.
PCH is the key platform for the strategic step Cape has taken in 2007 to establish a market leading position in Australasia, alongside the acquisitions of TCC and Concept Hire. Integration planning is progressing well and early indications for the combined businesses in 2008 are very positive.
Cape's management team is now firmly focussed on cash generation, integrating the businesses acquired in 2007, delivering the associated synergies and ensuring that all newly acquired services are pulled through the Group. Cape now looks forward to a sustained period of strong organic growth.
Overall, Cape expects its results for the year ended 31 December 2007 to exceed
current market expectations. Expected levels of utilisation for the first
quarter of 2008 are high and the prospects for both the international energy and
natural resources sectors in which Cape operates remain very encouraging.
In addition, the Company has appointed Hawkpoint Partners Limited as its
Nominated Adviser with immediate effect. Collins Stewart Europe Limited remains
the Company's broker.
04 January 2008
Cape PLC
('Cape', the 'Group' or the 'Company')
Pre-Close Trading Update and Appointment of Nominated Adviser
Cape (AIM: CIU), the international provider of essential support services to the energy and natural resources sectors, is pleased to announce its pre-close trading update ahead of the preliminary results for the year ended 31 December 2007, due to be released on 19 March 2008.
Following a record level of activity in the first half of 2007, trading across all of the Group's operations has continued to be as strong with progress made in all key market sectors. Sales in each of the regional business units have grown significantly year on year with each performing well ahead of expectations. All three of Cape's acquisitions in Australia are expected to make a positive contribution to the 2007 results.
On 26 November 2007, Cape announced that its offer for PCH had been declared unconditional. The offer closed on 20 December 2007. Cape has issued compulsory acquisition notices to holders of all outstanding PCH shares.
PCH is the key platform for the strategic step Cape has taken in 2007 to establish a market leading position in Australasia, alongside the acquisitions of TCC and Concept Hire. Integration planning is progressing well and early indications for the combined businesses in 2008 are very positive.
Cape's management team is now firmly focussed on cash generation, integrating the businesses acquired in 2007, delivering the associated synergies and ensuring that all newly acquired services are pulled through the Group. Cape now looks forward to a sustained period of strong organic growth.
Overall, Cape expects its results for the year ended 31 December 2007 to exceed
current market expectations. Expected levels of utilisation for the first
quarter of 2008 are high and the prospects for both the international energy and
natural resources sectors in which Cape operates remain very encouraging.
In addition, the Company has appointed Hawkpoint Partners Limited as its
Nominated Adviser with immediate effect. Collins Stewart Europe Limited remains
the Company's broker.
hlyeo98 - 04 Jan 2008 19:35 - 52 of 346
Cape says directors lifts stake in Cape PLC.
Energy support services provider Cape PLC said chief executive Martin May has purchased 5,000 shares at 245.8 pence each, lifting his stake in the company to 130,000 shares, or about 0.11 pct of the company's issued share capital and Sean O'Connor, a non-executive Director of Cape, has today purchased 12,250 Ordinary Shares of 25 pence each ('Ordinary Shares') at a price of 244.75p.
Energy support services provider Cape PLC said chief executive Martin May has purchased 5,000 shares at 245.8 pence each, lifting his stake in the company to 130,000 shares, or about 0.11 pct of the company's issued share capital and Sean O'Connor, a non-executive Director of Cape, has today purchased 12,250 Ordinary Shares of 25 pence each ('Ordinary Shares') at a price of 244.75p.
Toya
- 05 Jan 2008 18:41
- 53 of 346
According to The Times today:
"Numis upgraded from 'add' to 'buy' with a 366p target price."
"Numis upgraded from 'add' to 'buy' with a 366p target price."
hlyeo98 - 16 Aug 2008 11:24 - 54 of 346
Time Traveller
- 18 Aug 2008 20:19
- 55 of 346
hlyeo98 - 07 Oct 2008 14:17 - 56 of 346
195p...why is CAPE falling?
dealerdear - 16 Oct 2008 12:02 - 57 of 346
Good company but came out with a statement yesterday about net debt which of course today is everything.
Net debt was down but the market has taken very badly to it. Currently down 54%.
Net debt was down but the market has taken very badly to it. Currently down 54%.
justyi - 16 Oct 2008 12:46 - 58 of 346
Also Panmure Gordon has reiterated a SELL on CIU. Get out of this. 88p as I write.
hlyeo98 - 17 Oct 2008 09:10 - 59 of 346
Wow...good thing I sold out of Cape at 210p suffering a small loss.
justyi - 17 Oct 2008 11:44 - 60 of 346
The net debt looks very worrying. It does not reassure investors in spite of directors comment. 80p at the moment.
dealerdear - 17 Oct 2008 11:50 - 61 of 346
70p not 80p!
justyi - 17 Oct 2008 11:56 - 62 of 346
The net debt looks very worrying. It does not reassure investors in spite of directors comment. 70p at the moment.
Cape has a ton of brick tied to it now. Thank you for the update. 70p
Cape has a ton of brick tied to it now. Thank you for the update. 70p
Big Al
- 19 Mar 2009 10:13
- 63 of 346
;-0
Energeticbacker - 20 Mar 2009 17:07 - 64 of 346
Cash flowing, debt looks manageable but there is no dividend and when can shareholders really hope to start reaping any rewards
Note on www.investorschampion.com
Market cap is approx 73m and the group has net tangible assets with a book value of 58m; the debt holders receive over 30m each year in the form of interest and repayments; payments for industrial diseases consume several million pounds each year; the group has 11,000 plus employees and if that isnt enough there is always 129,000 tonnes of access equipment that needs replacing.
But lots of positives in form of order book, UK power generation exposure and loads of 'potential' in LNG in Aus
Traders stock?
Note on www.investorschampion.com
Market cap is approx 73m and the group has net tangible assets with a book value of 58m; the debt holders receive over 30m each year in the form of interest and repayments; payments for industrial diseases consume several million pounds each year; the group has 11,000 plus employees and if that isnt enough there is always 129,000 tonnes of access equipment that needs replacing.
But lots of positives in form of order book, UK power generation exposure and loads of 'potential' in LNG in Aus
Traders stock?
Big Al
- 23 Mar 2009 10:03
- 65 of 346
;-))
Some good news today. Also a good write-up in the weekend's newspapers, specifically mentioning the debt repayment situation. Could CIU be one acquisitive company that can pay down what it's borrowed for bolt-ons?
I'm holding for now at the riskier end of the SIPP. ;-0
Some good news today. Also a good write-up in the weekend's newspapers, specifically mentioning the debt repayment situation. Could CIU be one acquisitive company that can pay down what it's borrowed for bolt-ons?
I'm holding for now at the riskier end of the SIPP. ;-0
Joe Say
- 23 Mar 2009 19:35
- 66 of 346
You must work in Health and Safety or such to classify this as at your riskier end of your SIPP !
Big Al
- 23 Mar 2009 21:01
- 67 of 346
;-))))
goldfinger
- 16 Apr 2009 14:21
- 68 of 346
Gone long on CIU CAPE, never thought Id get the opportunity to get in at less than 100p going forward.
Now there is a case here for predicting a bagger IMHO.
Way too cheap and a quality management and company.
Cant believe it dropped so low in the first place.
Now there is a case here for predicting a bagger IMHO.
Way too cheap and a quality management and company.
Cant believe it dropped so low in the first place.
justyi - 16 Apr 2009 14:52 - 69 of 346
People are starting to take profit now. It has risen by 200%. It will go down.
goldfinger
- 16 Apr 2009 15:50
- 70 of 346
Ahhhhhhhhh but are you looking below the surface at the fundies.
derd cheap and a lot of fund managers will have picked up on that even though there may be a bit of profit taking going on at present.
Derd cheap on a fundies basis.
derd cheap and a lot of fund managers will have picked up on that even though there may be a bit of profit taking going on at present.
Derd cheap on a fundies basis.
dealerdear - 16 Apr 2009 15:57 - 71 of 346
don't worry GF. I agree with you and you're bound to be right simply because justyi is bound to be wrong.
I refer you to justyi's comments on the POG thread.
I refer you to justyi's comments on the POG thread.
goldfinger
- 17 Apr 2009 08:27
- 72 of 346
Brokers like it aswell.......
Cape PLC
FORECASTS
2009 2010
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
16-04-09 BUY 40.12 24.82 38.57 23.66
Eden Group
03-04-09 BUY
Evolution Securities Ltd
01-04-09 ADD 43.40 28.00 44.20 28.90
Collins Stewart
20-03-09 BUY 32.10 35.90
Numis Securities Ltd
19-03-09 BUY 54.00 32.90 54.00 32.90
2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 41.72 30.02 0.00 44.20 30.87 0.00
1 Month Change -0.03 -0.04 0.00 0.00 -0.03 0.00
3 Month Change -1.68 -0.77 0.00 17.49 4.41 0.00
GROWTH
2008 (A) 2009 (E) 2010 (E)
Norm. EPS -3.38% 18.16% 2.83%
DPS % % %
INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)
EBITDA m 78.89m 79.19m
EBIT m m m
Dividend Yield 0.00% % %
Dividend Cover x x x
PER 3.74x 3.16x 3.08x
PEG -1.11f 0.17f 1.09f
Net Asset Value PS p p p
Cape PLC
FORECASTS
2009 2010
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
16-04-09 BUY 40.12 24.82 38.57 23.66
Eden Group
03-04-09 BUY
Evolution Securities Ltd
01-04-09 ADD 43.40 28.00 44.20 28.90
Collins Stewart
20-03-09 BUY 32.10 35.90
Numis Securities Ltd
19-03-09 BUY 54.00 32.90 54.00 32.90
2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 41.72 30.02 0.00 44.20 30.87 0.00
1 Month Change -0.03 -0.04 0.00 0.00 -0.03 0.00
3 Month Change -1.68 -0.77 0.00 17.49 4.41 0.00
GROWTH
2008 (A) 2009 (E) 2010 (E)
Norm. EPS -3.38% 18.16% 2.83%
DPS % % %
INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)
EBITDA m 78.89m 79.19m
EBIT m m m
Dividend Yield 0.00% % %
Dividend Cover x x x
PER 3.74x 3.16x 3.08x
PEG -1.11f 0.17f 1.09f
Net Asset Value PS p p p
Technotamed - 24 Apr 2009 15:29 - 73 of 346
We have lift off...........passed the 100p mark
craftyone - 26 Apr 2009 08:33 - 74 of 346
moved out at 102 fortnight ago nearly retempted at 94 but in price was 90 may have to reasses as will keep flying!
Big Al
- 28 Apr 2009 15:54
- 75 of 346
Blue on a red day. ;-)
Dil
- 05 May 2009 12:05
- 76 of 346
Nice chart Al.
Big Al
- 05 May 2009 13:14
- 77 of 346
Nice company, Dil. Followed them for ages as you know from SIPP thread. Couldn't believe it when it got caught up in the general fall. Bargain.
All gravy now. ;-)
All gravy now. ;-)
Big Al
- 12 May 2009 09:48
- 78 of 346
;-)))
;EMA(85)&IND=MACD(26,12,9);VOLMA(60)%7BU%7D&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
Big Al
- 20 May 2009 15:54
- 79 of 346
ttt
:-)))) again
:-)))) again
skinny
- 20 May 2009 16:13
- 80 of 346
Al - I also have a few of these and added this morning :-)
jkd - 20 May 2009 16:59 - 81 of 346
alas
i hold none,my cupboard is bare.
would be nice to see an increase in volume. dont want or have any wish to put a dampener on it, tomorrow maybe? i do hope so. good luck and best wishes:-)
regards
jkd
i hold none,my cupboard is bare.
would be nice to see an increase in volume. dont want or have any wish to put a dampener on it, tomorrow maybe? i do hope so. good luck and best wishes:-)
regards
jkd
Big Al
- 20 May 2009 17:10
- 82 of 346
Multi-bagger here. ;-))
goldfinger
- 01 Jun 2009 15:29
- 83 of 346
Director buying at CIU CAPE...... nice.
Way undervalued imho on just a forward P/E of only 4.9 going into 2010.
reckon brokers have got this one right.........
Cape PLC
FORECASTS
2009 2010
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
29-05-09 BUY 40.12 24.82 38.57 23.66
Collins Stewart
20-05-09 BUY 32.10 35.90
Evolution Securities Ltd
20-05-09 BUY 44.40 28.60 44.20 28.90
Numis Securities Ltd
20-05-09 BUY 54.00 32.90 54.00 32.90
Eden Group
07-05-09 BUY
2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 44.40 30.19 0.00 44.20 30.71 0.00
1 Month Change 2.70 0.07 0.00 0.00 -0.16 0.00
3 Month Change 1.00 -0.78 17.49 3.67
GROWTH
2008 (A) 2009 (E) 2010 (E)
Norm. EPS 7.26% 7.04% 1.72%
DPS % % %
INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)
EBITDA 70.80m 79.00m 79.35m
EBIT 52.80m m m
Dividend Yield % % %
Dividend Cover x x x
PER 5.42x 5.07x 4.98x
PEG 0.75f 0.72f 2.89f
Net Asset Value PS 50.00p p p
Way undervalued imho on just a forward P/E of only 4.9 going into 2010.
reckon brokers have got this one right.........
Cape PLC
FORECASTS
2009 2010
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
29-05-09 BUY 40.12 24.82 38.57 23.66
Collins Stewart
20-05-09 BUY 32.10 35.90
Evolution Securities Ltd
20-05-09 BUY 44.40 28.60 44.20 28.90
Numis Securities Ltd
20-05-09 BUY 54.00 32.90 54.00 32.90
Eden Group
07-05-09 BUY
2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 44.40 30.19 0.00 44.20 30.71 0.00
1 Month Change 2.70 0.07 0.00 0.00 -0.16 0.00
3 Month Change 1.00 -0.78 17.49 3.67
GROWTH
2008 (A) 2009 (E) 2010 (E)
Norm. EPS 7.26% 7.04% 1.72%
DPS % % %
INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)
EBITDA 70.80m 79.00m 79.35m
EBIT 52.80m m m
Dividend Yield % % %
Dividend Cover x x x
PER 5.42x 5.07x 4.98x
PEG 0.75f 0.72f 2.89f
Net Asset Value PS 50.00p p p
goldfinger
- 02 Jun 2009 09:24
- 84 of 346
Spread come in now ...nice.
New coverage aswell..
29-May-09 Cape CIU Arden Partners Buy 153.00p - - New Coverage
New coverage aswell..
29-May-09 Cape CIU Arden Partners Buy 153.00p - - New Coverage
skinny
- 10 Jun 2009 10:16
- 85 of 346
Nice move up this morning.
skinny
- 12 Jun 2009 07:48
- 86 of 346
Big Al
- 12 Jun 2009 14:12
- 87 of 346
Still motoring are we? ;-)))))
Big Al
- 29 Jun 2009 16:56
- 88 of 346
New high. Decent volume late on. ;-))
skinny
- 30 Jun 2009 14:47
- 89 of 346
And again today :-)
Big Al
- 30 Jun 2009 15:00
- 90 of 346
Thought the trend was bending, skinny, but nope, it appears she wants more. ;-)))
skinny
- 30 Jun 2009 15:02
- 91 of 346
Al - lets hope so until at least 220!
Big Al
- 30 Jun 2009 16:35
- 92 of 346
Big volume today now. This is good. The last couple of weeks of consolidation has been quite low vol. Nice to see up with supporting number. ;-))
240 possible, but not before Xmas. LOL!
240 possible, but not before Xmas. LOL!
Big Al
- 02 Jul 2009 16:02
- 93 of 346
RNS Number : 0416V
Cape PLC
02 July 2009
2 July 2009
Cape plc
Issue of Equity
Cape plc (AIM: CIU) ('Cape' or the 'Company') announces that, on 30 June 2009, it allotted 430,941 ordinary shares of 25p each ('Ordinary Shares') in the Company to the vendors of DBI Group Limited ('DBI'), in consideration for the final payment in relation to the Company's acquisition of DBI in 2006.
The Company has also, on 30 June 2009, allotted 246,785 Ordinary Shares in the Company, at a price of 62.51 pence per Ordinary Share, following the exercise of EMI options held by the vendors of DBI.
Application has been made for the admission of 677,726 Ordinary Shares to trading on AIM. The shares will rank pari passu with existing Ordinary Shares and it is expected that admission will occur at 8.00am on 6 July 2009.
Following admission of the new shares, the total issued share capital of the Company will be 115,666,813 ordinary shares of 25p, all of which are voting shares.
Cape PLC
02 July 2009
2 July 2009
Cape plc
Issue of Equity
Cape plc (AIM: CIU) ('Cape' or the 'Company') announces that, on 30 June 2009, it allotted 430,941 ordinary shares of 25p each ('Ordinary Shares') in the Company to the vendors of DBI Group Limited ('DBI'), in consideration for the final payment in relation to the Company's acquisition of DBI in 2006.
The Company has also, on 30 June 2009, allotted 246,785 Ordinary Shares in the Company, at a price of 62.51 pence per Ordinary Share, following the exercise of EMI options held by the vendors of DBI.
Application has been made for the admission of 677,726 Ordinary Shares to trading on AIM. The shares will rank pari passu with existing Ordinary Shares and it is expected that admission will occur at 8.00am on 6 July 2009.
Following admission of the new shares, the total issued share capital of the Company will be 115,666,813 ordinary shares of 25p, all of which are voting shares.
skinny
- 07 Jul 2009 08:47
- 94 of 346
Trading Update
Cape plc (AIM: CIU), the international provider of essential support services to
the energy and natural resources sectors, issues the following pre-close trading
update ahead of the announcement of its interim results for the six months ended
30 June 2009, which is expected on 16 September 2009.
The Group's underlying trading performance in the first half of 2009 has been in
line with management expectations and earlier guidance provided. The headline
results for this period will also benefit from favourable exchange rate
movements.
Since the Interim Management Statement issued by the Company on 20 May 2009,
performance during the period across Cape's diverse international footprint has
continued to be well balanced. Whilst we continue to experience some project
delays in Australia due to adverse market conditions, this is more than offset
by growth in the Middle East markets as evidenced by our recent contact wins.
All other regions continue to trade at or ahead of expectations.
With strong cash generation in the first half, the Group's net debt at 30
June 2009 has continued to reduce further from year end 2008 levels.
The positive momentum in the first half has continued into the second half and,
with improving revenue visibility, the Board is increasingly confident of the
outcome for the full year.
- Ends -
Cape plc (AIM: CIU), the international provider of essential support services to
the energy and natural resources sectors, issues the following pre-close trading
update ahead of the announcement of its interim results for the six months ended
30 June 2009, which is expected on 16 September 2009.
The Group's underlying trading performance in the first half of 2009 has been in
line with management expectations and earlier guidance provided. The headline
results for this period will also benefit from favourable exchange rate
movements.
Since the Interim Management Statement issued by the Company on 20 May 2009,
performance during the period across Cape's diverse international footprint has
continued to be well balanced. Whilst we continue to experience some project
delays in Australia due to adverse market conditions, this is more than offset
by growth in the Middle East markets as evidenced by our recent contact wins.
All other regions continue to trade at or ahead of expectations.
With strong cash generation in the first half, the Group's net debt at 30
June 2009 has continued to reduce further from year end 2008 levels.
The positive momentum in the first half has continued into the second half and,
with improving revenue visibility, the Board is increasingly confident of the
outcome for the full year.
- Ends -
Big Al
- 14 Jul 2009 15:39
- 95 of 346
Thought I might get stopped out here, but still in. Stop is 178p for me.
Big Al
- 17 Jul 2009 12:31
- 96 of 346
Nicely up, but no volume as yet to make it stick?
skinny
- 17 Jul 2009 12:38
- 97 of 346
Yep - we want 220 :-)
skinny
- 17 Jul 2009 12:44
- 98 of 346
Looks like Deutsche Bank have added a few more.
Big Al
- 24 Jul 2009 09:26
- 99 of 346
I wanted volume last week. Closed at a new high yesterday on very good volume.
Looks like it might stick. ;-))))
Looks like it might stick. ;-))))
Big Al
- 31 Jul 2009 15:03
- 100 of 346
Fly me to the moon. ;-))))
skinny
- 03 Aug 2009 08:33
- 101 of 346
And there is 220 :-)
skinny
- 03 Aug 2009 11:58
- 102 of 346
JP Morgan been adding.
Big Al
- 03 Aug 2009 12:25
- 103 of 346
They're a bit slow. ;-))
skinny
- 05 Aug 2009 16:46
- 104 of 346
Another good rise today takes them into a 'busy' area - time for a bit of vigilance?
Big Al
- 05 Aug 2009 17:29
- 105 of 346
Definitely. ;-)))
My stop now 207p. Multi-bagger locked in. Should really be taking some off the table, but irresistible to keep it going. ;-))))))))
Still think we can get to 250p if market continues up. However, I'm not sure of that one. ;-0
My stop now 207p. Multi-bagger locked in. Should really be taking some off the table, but irresistible to keep it going. ;-))))))))
Still think we can get to 250p if market continues up. However, I'm not sure of that one. ;-0
skinny
- 06 Aug 2009 09:18
- 106 of 346
Al - I've sold some @230.5 for plenty :-)
Big Al
- 18 Aug 2009 08:04
- 107 of 346
skinny - you beat me by 0.75p.
Still, a multi, multi bagger is fine, thnaks. ;-)))))))))
Still, a multi, multi bagger is fine, thnaks. ;-)))))))))
skinny
- 16 Sep 2009 07:34
- 108 of 346
INTERIM RESULTS: 6 months ended 30 June 2009
Solid performance with margins maintained and growing order book
Cape plc (AIM: CIU), the international provider of essential support services to
the energy and resources sectors, announces its results for the six months ended
30 June 2009.
Financial Highlights
* Revenue up 12% to GBP331.6m (2008: GBP295.9m)
* Group adjusted operating profit(2) up 21% to GBP36.2m (2008: GBP29.9m)
* Profit before tax up 85% to GBP27.2m (2008: GBP14.7m)
* Basic earnings per share up 44% to 16.6p (2008: 11.5p)
* Adjusted diluted earnings per share(3) up 38% to 18.1p (2008: 13.1p)
* Net cash flow up 65% to GBP21.4m (2008: GBP13.0m)
* Net debt(4) reduced to GBP151.5m (2008: GBP199.0m), 1.7x EBITDA(9) (2008: 2.6x
EBITDA)
Operating Highlights
* Group operating margin(5) improved to 10.5% (2008: 10.1%)
* 48% growth in order book since 2008 year end
* Increased international spread with 73% of profits generated from outside the UK
(2008: 67%)
* Gulf/Middle East profit increased 78% (34% at constant currencies(1))
* UK profits maintained
* Contract wins include strategic maintenance for clients including British
Energy, Qatargas, BAPCO, SABIC and Minara Resources
* Significant cost reductions delivered in areas of lower activity combined with
strong focus on cash management
* Maintained excellent safety record recognised by clients with several
prestigious awards
Martin May, Chief Executive Officer, commented:
"Cape has delivered a solid financial performance in the first half. Whilst the
headline numbers have benefitted from favourable exchange movements and reduced
financing costs, it is pleasing that we have maintained our underlying operating
margin in the current market environment. With our increasing order book and
improving forward revenue visibility, we are confident that the full year
outcome will be at least in line with market expectations.
Looking further ahead, the medium term outlook for Cape's key end markets of
energy and mineral resources has improved during the course of the year and our
list of prospects continues to grow, although the sector is still experiencing
uncertainty in the timing of some projects. Our global Engineering &
Construction clients are now posting stable or increasing order books and the
pace of contract awards is showing some signs of improvement in Australia and
North Africa. This in turn gives us confidence that growth can be maintained."
Solid performance with margins maintained and growing order book
Cape plc (AIM: CIU), the international provider of essential support services to
the energy and resources sectors, announces its results for the six months ended
30 June 2009.
Financial Highlights
* Revenue up 12% to GBP331.6m (2008: GBP295.9m)
* Group adjusted operating profit(2) up 21% to GBP36.2m (2008: GBP29.9m)
* Profit before tax up 85% to GBP27.2m (2008: GBP14.7m)
* Basic earnings per share up 44% to 16.6p (2008: 11.5p)
* Adjusted diluted earnings per share(3) up 38% to 18.1p (2008: 13.1p)
* Net cash flow up 65% to GBP21.4m (2008: GBP13.0m)
* Net debt(4) reduced to GBP151.5m (2008: GBP199.0m), 1.7x EBITDA(9) (2008: 2.6x
EBITDA)
Operating Highlights
* Group operating margin(5) improved to 10.5% (2008: 10.1%)
* 48% growth in order book since 2008 year end
* Increased international spread with 73% of profits generated from outside the UK
(2008: 67%)
* Gulf/Middle East profit increased 78% (34% at constant currencies(1))
* UK profits maintained
* Contract wins include strategic maintenance for clients including British
Energy, Qatargas, BAPCO, SABIC and Minara Resources
* Significant cost reductions delivered in areas of lower activity combined with
strong focus on cash management
* Maintained excellent safety record recognised by clients with several
prestigious awards
Martin May, Chief Executive Officer, commented:
"Cape has delivered a solid financial performance in the first half. Whilst the
headline numbers have benefitted from favourable exchange movements and reduced
financing costs, it is pleasing that we have maintained our underlying operating
margin in the current market environment. With our increasing order book and
improving forward revenue visibility, we are confident that the full year
outcome will be at least in line with market expectations.
Looking further ahead, the medium term outlook for Cape's key end markets of
energy and mineral resources has improved during the course of the year and our
list of prospects continues to grow, although the sector is still experiencing
uncertainty in the timing of some projects. Our global Engineering &
Construction clients are now posting stable or increasing order books and the
pace of contract awards is showing some signs of improvement in Australia and
North Africa. This in turn gives us confidence that growth can be maintained."
Big Al
- 16 Sep 2009 09:38
- 109 of 346
Still amazes me these ever got as low as 20p only 6 months ago.
skinny
- 17 Sep 2009 08:43
- 110 of 346
In auction + 11.9%
skinny
- 17 Sep 2009 08:53
- 111 of 346
I'm out of these now @260 - so its all yours now Al.
Big Al
- 17 Sep 2009 14:29
- 112 of 346
Played it this week, but not in huge amounts, skinny. Nothing in it now again.
skinny
- 15 Oct 2009 18:08
- 113 of 346
12 month high today - chart looking intersting.
chessplayer - 25 Oct 2009 20:55 - 114 of 346
Certainly a fantastic performer,and reccommended by Questor in today's Telegraph.
Trading on a multiple of 12.8 for June 2011,and falling to 10.8 the following year.
Trading on a multiple of 12.8 for June 2011,and falling to 10.8 the following year.
Big Al
- 25 Oct 2009 21:20
- 115 of 346
Questor a wee bit late?
Great trading share now. ;-)))))))))))))
Great trading share now. ;-)))))))))))))
skinny
- 26 Oct 2009 13:12
- 116 of 346
Seems to have had the desired effect!
skinny
- 17 Dec 2009 13:16
- 117 of 346
skinny
- 06 Jan 2010 08:08
- 118 of 346
Trading Statement
TIDMCIU
RNS Number : 0225F
Cape PLC
06 January 2010
Embargoed: 0700hrs, 6 January 2010
Cape plc
("Cape" or the "Group")
Trading Statement
Cape plc, the international provider of essential, non-mechanical industrial
services principally to the energy and mineral resources sectors, issues the
following update for the year ended 31 December 2009.
Cape is pleased to confirm that it has continued to trade in line with
management expectations with activity levels remaining strong during the second
half.
The Group now expects full year results to be at least in line with market
expectations. Cash generation has also remained strong with net debt expected to
have reduced by circa GBP50m over the full year to around GBP115m at the year
end, approximately 9% ahead of market expectations.
Full year results will be issued on 10 March 2010.
- Ends -
TIDMCIU
RNS Number : 0225F
Cape PLC
06 January 2010
Embargoed: 0700hrs, 6 January 2010
Cape plc
("Cape" or the "Group")
Trading Statement
Cape plc, the international provider of essential, non-mechanical industrial
services principally to the energy and mineral resources sectors, issues the
following update for the year ended 31 December 2009.
Cape is pleased to confirm that it has continued to trade in line with
management expectations with activity levels remaining strong during the second
half.
The Group now expects full year results to be at least in line with market
expectations. Cash generation has also remained strong with net debt expected to
have reduced by circa GBP50m over the full year to around GBP115m at the year
end, approximately 9% ahead of market expectations.
Full year results will be issued on 10 March 2010.
- Ends -
skinny
- 14 Jan 2010 14:51
- 119 of 346
Cape JV Gets Multi-Million Pound Royal Navy Carriers Contract
LONDON (Dow Jones)
Energy services provider Cape PLC (CIU.LN) said Thursday that Ship Support Services, a joint venture between Cape and industrial painting firm Pyeroy, has been awarded a nine-year contract worth over GBP100 million to provide access and specialist coatings services for the U.K. Royal Navy's new generation of aircraft carriers.
Cape said it will be providing access services while Pyeroy will undertake blasting, specialist containment and coatings applications, adding that preparatory work has already started.
Cape and Pyeroy both have an equal share in the joint venture, which was awarded by BAE Systems Surface Ships Limited (BA.LN).
The first ship, the HMS Queen Elizabeth, is expected to enter service in 2016, said Cape, adding that its first sections are expected to arrive in August 2011. The second ship, the HMS Prince of Wales, is expected to enter service in 2018.
Cape said integration of the vessels will take place at Rosyth in Scotland and significant dock modifications have been completed to accommodate both ships.
At 1125 GMT, Cape shares were down 2.8 pence, or 1.1%, at 251.8 pence in a slightly higher Dow Jones UK Smaller Companies Market, which was 0.2% higher.
LONDON (Dow Jones)
Energy services provider Cape PLC (CIU.LN) said Thursday that Ship Support Services, a joint venture between Cape and industrial painting firm Pyeroy, has been awarded a nine-year contract worth over GBP100 million to provide access and specialist coatings services for the U.K. Royal Navy's new generation of aircraft carriers.
Cape said it will be providing access services while Pyeroy will undertake blasting, specialist containment and coatings applications, adding that preparatory work has already started.
Cape and Pyeroy both have an equal share in the joint venture, which was awarded by BAE Systems Surface Ships Limited (BA.LN).
The first ship, the HMS Queen Elizabeth, is expected to enter service in 2016, said Cape, adding that its first sections are expected to arrive in August 2011. The second ship, the HMS Prince of Wales, is expected to enter service in 2018.
Cape said integration of the vessels will take place at Rosyth in Scotland and significant dock modifications have been completed to accommodate both ships.
At 1125 GMT, Cape shares were down 2.8 pence, or 1.1%, at 251.8 pence in a slightly higher Dow Jones UK Smaller Companies Market, which was 0.2% higher.
skinny
- 18 Jan 2010 08:48
- 120 of 346
CAPE WINS SHELL OFFSHORE CONTRACT
RNS Number : 6498F
Cape PLC
18 January 2010
Embargoed: 0700hrs, 18 January 2010
CAPE FAR EAST PACIFIC RIM WINS SHELL OFFSHORE CONTRACT
Cape plc, the international provider of essential, non-mechanical industrial
services principally to the energy and mineral resources sectors, is pleased to
announce that it has been awarded additional contracts with Shell Philippines
Exploration B.V. valued at US$10m.
Cape has secured the Shell Malampaya 2010 Shutdown Isolation Package which comes
on the back of the recently awarded "Offshore Hook Up and Commissioning
Contract" on the Shell Malampaya Offshore Shallow Water Platform. The shutdown
will be executed in the first quarter of 2010 whilst the Hook Up and
Commissioning contracts are expected to complete in June 2010.
Shell Philippines has engaged Cape to provide multiple services during these
contracts ranging from core skills such as access, insulation, protective
coating systems, rigging to specialist skills including mercury handling,
nitrogen purging and flushing and pressure and leak testing.
Martin May, Chief Executive of Cape plc, commented,
"Cape has been actively engaged on the Shell Malampaya Offshore and Onshore
assets in the Philippines for ten years and we are delighted to be appointed to
carry out our third shutdown. Cape is uniquely placed to provide such an
extensive range of diverse and complex services."
RNS Number : 6498F
Cape PLC
18 January 2010
Embargoed: 0700hrs, 18 January 2010
CAPE FAR EAST PACIFIC RIM WINS SHELL OFFSHORE CONTRACT
Cape plc, the international provider of essential, non-mechanical industrial
services principally to the energy and mineral resources sectors, is pleased to
announce that it has been awarded additional contracts with Shell Philippines
Exploration B.V. valued at US$10m.
Cape has secured the Shell Malampaya 2010 Shutdown Isolation Package which comes
on the back of the recently awarded "Offshore Hook Up and Commissioning
Contract" on the Shell Malampaya Offshore Shallow Water Platform. The shutdown
will be executed in the first quarter of 2010 whilst the Hook Up and
Commissioning contracts are expected to complete in June 2010.
Shell Philippines has engaged Cape to provide multiple services during these
contracts ranging from core skills such as access, insulation, protective
coating systems, rigging to specialist skills including mercury handling,
nitrogen purging and flushing and pressure and leak testing.
Martin May, Chief Executive of Cape plc, commented,
"Cape has been actively engaged on the Shell Malampaya Offshore and Onshore
assets in the Philippines for ten years and we are delighted to be appointed to
carry out our third shutdown. Cape is uniquely placed to provide such an
extensive range of diverse and complex services."
Big Al
- 22 Jan 2010 13:15
- 121 of 346
Was that you cashing in, skinny? ;-))
hlyeo98 - 22 Jan 2010 13:22 - 122 of 346
hlyeo98 - 22 Jan 2010 13:23 - 123 of 346
SORRY, WRONG CHART ABOVE
skinny
- 22 Jan 2010 17:36
- 124 of 346
Al :-) That 4.6m trade @202 didn't help!
hlyeo98 - 01 Feb 2010 20:06 - 125 of 346
Buy CIU now at 225p
skinny
- 09 Feb 2010 11:44
- 126 of 346
I've had a dabble this morning @213.5
skinny
- 10 Feb 2010 08:53
- 127 of 346
Just closed @232.5 - which was nice.
skinny
- 05 Mar 2010 14:21
- 128 of 346
Contract win on the 3rd, results on the 10th - anyone else?
skinny
- 09 Mar 2010 12:37
- 129 of 346
skinny
- 12 Mar 2010 11:37
- 130 of 346
Final Results.
Highlights
Adjusted Profit Before Tax(1) up 25.7% to 60.7m (2008: 48.3m) at AER(10) and up 8.9% at CER(10)
Adjusting operating profit margin(2) improved to 10.8% (2008: 10.4%)
Adjusted diluted earnings per share(3) up 25.0% to 37.5p (2008: 30.0p)
Free cash flow(4) up 128.3% to 54.1m (2008: 23.7m) with 95.9% (2008: 87.7%) operating cash conversion(5) at AER
Net debt(6) reduced by 31.4% to 113.6m (2008: 165.5m), 1.3 times(7) EBITDA(8) (2008: 2.1 times EBITDA)
Firm intention to reinstate dividend payments later this year
Increased level of confidence in future IDC liability enables a provision to be booked of 70.5m and the modified audit opinion is no longer required in the Group's audited accounts
Loss before tax of 15.6m (2008: profit before tax of 37.8m) reflects booking of IDC provision for future liabilities of 70.5m
Basic loss per share of 3.5p (2008: earnings per share of 26.7p)
53% growth in order book with over 61% of consensus 2010 revenues(9) secured
Highlights
Adjusted Profit Before Tax(1) up 25.7% to 60.7m (2008: 48.3m) at AER(10) and up 8.9% at CER(10)
Adjusting operating profit margin(2) improved to 10.8% (2008: 10.4%)
Adjusted diluted earnings per share(3) up 25.0% to 37.5p (2008: 30.0p)
Free cash flow(4) up 128.3% to 54.1m (2008: 23.7m) with 95.9% (2008: 87.7%) operating cash conversion(5) at AER
Net debt(6) reduced by 31.4% to 113.6m (2008: 165.5m), 1.3 times(7) EBITDA(8) (2008: 2.1 times EBITDA)
Firm intention to reinstate dividend payments later this year
Increased level of confidence in future IDC liability enables a provision to be booked of 70.5m and the modified audit opinion is no longer required in the Group's audited accounts
Loss before tax of 15.6m (2008: profit before tax of 37.8m) reflects booking of IDC provision for future liabilities of 70.5m
Basic loss per share of 3.5p (2008: earnings per share of 26.7p)
53% growth in order book with over 61% of consensus 2010 revenues(9) secured
skinny
- 12 Mar 2010 11:37
- 131 of 346
Final Results.
Highlights
Adjusted Profit Before Tax(1) up 25.7% to 60.7m (2008: 48.3m) at AER(10) and up 8.9% at CER(10)
Adjusting operating profit margin(2) improved to 10.8% (2008: 10.4%)
Adjusted diluted earnings per share(3) up 25.0% to 37.5p (2008: 30.0p)
Free cash flow(4) up 128.3% to 54.1m (2008: 23.7m) with 95.9% (2008: 87.7%) operating cash conversion(5) at AER
Net debt(6) reduced by 31.4% to 113.6m (2008: 165.5m), 1.3 times(7) EBITDA(8) (2008: 2.1 times EBITDA)
Firm intention to reinstate dividend payments later this year
Increased level of confidence in future IDC liability enables a provision to be booked of 70.5m and the modified audit opinion is no longer required in the Group's audited accounts
Loss before tax of 15.6m (2008: profit before tax of 37.8m) reflects booking of IDC provision for future liabilities of 70.5m
Basic loss per share of 3.5p (2008: earnings per share of 26.7p)
53% growth in order book with over 61% of consensus 2010 revenues(9) secured
Highlights
Adjusted Profit Before Tax(1) up 25.7% to 60.7m (2008: 48.3m) at AER(10) and up 8.9% at CER(10)
Adjusting operating profit margin(2) improved to 10.8% (2008: 10.4%)
Adjusted diluted earnings per share(3) up 25.0% to 37.5p (2008: 30.0p)
Free cash flow(4) up 128.3% to 54.1m (2008: 23.7m) with 95.9% (2008: 87.7%) operating cash conversion(5) at AER
Net debt(6) reduced by 31.4% to 113.6m (2008: 165.5m), 1.3 times(7) EBITDA(8) (2008: 2.1 times EBITDA)
Firm intention to reinstate dividend payments later this year
Increased level of confidence in future IDC liability enables a provision to be booked of 70.5m and the modified audit opinion is no longer required in the Group's audited accounts
Loss before tax of 15.6m (2008: profit before tax of 37.8m) reflects booking of IDC provision for future liabilities of 70.5m
Basic loss per share of 3.5p (2008: earnings per share of 26.7p)
53% growth in order book with over 61% of consensus 2010 revenues(9) secured
goldfinger
- 22 Apr 2010 20:07
- 132 of 346
Interesting to see that the latest broker BUY targets are very bullish....
Old price target New price target Broker change
10-Mar-10 Panmure Gordon Buy 247.50p - - Reiteration
07-Jan-10 Panmure Gordon Buy 269.00p 310.00p 350.00p Reiteration
30-Nov-09 Arden Partners Buy 228.00p - - Reiteration
03-Nov-09 Arden Partners Buy 250.00p 295.00p - Reiteration
350p for Panmure Gordon and 295p for Arden Partners.
Looks far too cheap.
Old price target New price target Broker change
10-Mar-10 Panmure Gordon Buy 247.50p - - Reiteration
07-Jan-10 Panmure Gordon Buy 269.00p 310.00p 350.00p Reiteration
30-Nov-09 Arden Partners Buy 228.00p - - Reiteration
03-Nov-09 Arden Partners Buy 250.00p 295.00p - Reiteration
350p for Panmure Gordon and 295p for Arden Partners.
Looks far too cheap.
goldfinger
- 23 Apr 2010 07:55
- 133 of 346
Fingers crossed for a good day here.
goldfinger
- 23 Apr 2010 08:09
- 134 of 346
Might be worth taking a position here I have today.
Fundies look very good aswell with the stock looking very cheap on a forward P/E of only 5.6 going into 2011.
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
20-04-10 BUY 61.50 38.20 70.60 44.00
Arden Partners
09-04-10 BUY 61.13 37.30 6.00 69.18 41.70 7.00
Eden Group
01-04-10 BUY
Collins Stewart
10-03-10 BUY 63.80 39.00 70.50 43.00
Numis Securities Ltd
10-03-10 BUY 62.00 37.20 6.00 68.70 41.40 6.00
Evolution Securities Ltd
10-03-10 BUY 62.70 37.50 66.50 39.40
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 62.04 37.56 6.00 69.76 42.02 6.52
1 Month Change -0.02 0.00 0.00 0.01 -0.01 0.02
3 Month Change 1.40 1.37 6.00 -1.54 -0.10
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 11.87%
DPS % % 8.67%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA m 87.78m 95.60m
EBIT m m m
Dividend Yield 0.00% 2.51% 2.72%
Dividend Cover x 6.26x 6.44x
PER -106.86x 6.37x 5.69x
PEG f f 0.48f
Net Asset Value PS p p p
Fundies look very good aswell with the stock looking very cheap on a forward P/E of only 5.6 going into 2011.
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
20-04-10 BUY 61.50 38.20 70.60 44.00
Arden Partners
09-04-10 BUY 61.13 37.30 6.00 69.18 41.70 7.00
Eden Group
01-04-10 BUY
Collins Stewart
10-03-10 BUY 63.80 39.00 70.50 43.00
Numis Securities Ltd
10-03-10 BUY 62.00 37.20 6.00 68.70 41.40 6.00
Evolution Securities Ltd
10-03-10 BUY 62.70 37.50 66.50 39.40
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 62.04 37.56 6.00 69.76 42.02 6.52
1 Month Change -0.02 0.00 0.00 0.01 -0.01 0.02
3 Month Change 1.40 1.37 6.00 -1.54 -0.10
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 11.87%
DPS % % 8.67%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA m 87.78m 95.60m
EBIT m m m
Dividend Yield 0.00% 2.51% 2.72%
Dividend Cover x 6.26x 6.44x
PER -106.86x 6.37x 5.69x
PEG f f 0.48f
Net Asset Value PS p p p
goldfinger
- 23 Apr 2010 10:44
- 135 of 346
Going very well at the moment and it should do being so undervalued.
goldfinger
- 23 Apr 2010 13:38
- 136 of 346
http://www.yorkshirepost.co.uk/businessnews/Cape-sees-2011-as-watershed.6143139.jp
And a year of growth on the cards.....
Cape sees 2011 as watershed year for 11 March 2010
By Ros Snowdon City Editor
ENERGY services group Cape is predicting a return to higher growth in 2011 after a year of stability in 2010.
Cape, which has its UK operations based in Wakefield, said full-year adjusted pre-tax profits rose 26 per cent in 2009 thanks to contract wins in the Middle East and better than expected cost savings.
Cape, which provides insulation, industrial cleaning and training services to the energy and mineral resources sectors, said adjusted profits rose 26 per cent to 60.7m in the year to December 31.
Without adjustments, the group posted a pre-tax loss of 15.6m after booking a provision of 70.5m to enable it to draw a line under its asbestos liabilities.
The company, whose customers include EDF, BP and National Grid, has benefited from the defensive nature of its maintenance business, which accounts for 48 per cent of revenues.
Cape said it expects levels of activity to be the same in 2010 as in 2009, but it anticipates a return to higher growth in 2011, with demand for its services benefiting from ageing infrastructure in the UK and high growth in markets in the Middle East and Far East.
The company will look to restart dividend payments later this year, after last paying a dividend to shareholders 10 years ago.
The group's results were boosted by a number of significant new and renewed contracts in the Middle East worth 22m in total.
All the contracts are in Qatar and are associated with the country's burgeoning gas export business.
The biggest deal is a 13.5m fully integrated multi-discipline maintenance contract to supply access, insulation, fireproofing, refractory, painting and general civil work to Qatargas's onshore and offshore facilities.
This contract began last June and will last for three years. There is also a provision within the contract for a two-year extension through to the middle of 2014.
Cape also won a 5.5m multi-discipline contract to supply access and insulation works on the ORYX Gas to Liquids plant in Qatar. The contract will last for three years.
ORYX Gas To Liquids operation is a joint venture between Qatar Petroleum and Sasol of South Africa. Cape has been commissioned to work on the first of a series of planned Gas To Liquids production facilities contributing to the State of Qatar's stated ambition of becoming the Gas To Liquids "capital of the world".
The third contract is worth around 3m and is a multi-discipline contract to supply access and insulation works for the Tank construction on the Shell Pearl Gas To Liquids plant within Qatar.
The Pearl plant will be the world's largest plant converting natural gas into 140,000 barrels per day of clean-burning liquid transport fuel and other products.
The project will also produce 120,000 barrels of oil equivalent per day of natural gas liquids and ethane.
Cape's chief executive Martin May said: "These contracts demonstrate the value to clients of Cape's bundled services proposition and our strength across our international footprint."
In January the group announced a 150m five-year contract with BP to work on all nine of the energy company's North Sea oil platforms.
Cape will provide fabric maintenance support and deck operations on the platforms together with onshore maintenance at BP's Dimlington Gas Terminal.
Cape already provides these services to BP at six of its UK North Sea oil platforms.
Bernard Looney, managing director of BP North Sea, said: "Cape has demonstrated its capability to deliver the services we need safely and efficiently and we look forward to a continued productive partnership."
Since the year end Cape has also won 6m in new contracts with oil giant Shell.
The growth of a company
Since its foundation over a century ago, Cape has had a varied and colourful history.
The Cape Group was founded in 1893 as an importer and manufacturer of insulation products.
Between 1893 and the 1950s, the company grew rapidly. It acquired its first factory in the UK in 1896 and at the start of the Second World War in 1939 manufacturing began at Acre Mill in West Yorkshire
In 1976 the group started its scaffolding division.
In 1979 it pulled out of its mining operations in South Africa and in 1982 it stopped manufacture of asbestos products. In 2006 it created a 40m asbestos fund for UK claimants. In 2007, Cape developed a significant presence in Australia.
Page 1 of 1
Last Updated: 11 March 2010 1:37 PM
Source: n/a
Location: Yorkshire
goldfinger
- 23 Apr 2010 17:08
- 137 of 346
Up 11% should be lot more to come on this ones skinny P/E.
skinny
- 23 Apr 2010 17:09
- 138 of 346
Leave me out of it !
goldfinger
- 24 Apr 2010 00:56
- 139 of 346
LOL.
goldfinger
- 25 Apr 2010 18:53
- 140 of 346
lifted from across road..
Tipped on Investtech TA site for Monday Morning Report.......
Positive Candidate -Medium term, Apr 23, 2010 Analysis Explanation
An approximate horizontal trend is broken up. A continued strong development is indicated, and the stock now meets support on possible reactions down towards the trend lines. Has also broken a rectangle formation. A decisive break of the resistance at 261 will signal a further rise to 340 or more. The stock is testing the resistance at pence 265. This should give a negative reaction, but an upward breakthough of pence 265 means a positive signal. The stock is overall assessed as technically positive for the medium long term.
Tipped on Investtech TA site for Monday Morning Report.......
Positive Candidate -Medium term, Apr 23, 2010 Analysis Explanation
An approximate horizontal trend is broken up. A continued strong development is indicated, and the stock now meets support on possible reactions down towards the trend lines. Has also broken a rectangle formation. A decisive break of the resistance at 261 will signal a further rise to 340 or more. The stock is testing the resistance at pence 265. This should give a negative reaction, but an upward breakthough of pence 265 means a positive signal. The stock is overall assessed as technically positive for the medium long term.
Big Al
- 25 Apr 2010 20:15
- 141 of 346
Am considering rejoining the race having been out since August last year.
goldfinger
- 26 Apr 2010 07:58
- 142 of 346
Well its cheap enough Big Al.
Should be more upside to come.
Should be more upside to come.
goldfinger
- 26 Apr 2010 08:12
- 143 of 346
Derd cheap IMHO......
Cape ForecastsYear Ending Revenue (m) Pre-tax (m) EPS P/E PEG Yield
31-Dec-11 689.84 68.74 41.90p 6.3 0.6 +11%
On a P/E of just over 6 going into 2011 and EPS growth predicted of 11%.
Cant see it remaing so cheap for long.
Cape ForecastsYear Ending Revenue (m) Pre-tax (m) EPS P/E PEG Yield
31-Dec-11 689.84 68.74 41.90p 6.3 0.6 +11%
On a P/E of just over 6 going into 2011 and EPS growth predicted of 11%.
Cant see it remaing so cheap for long.
hlyeo98 - 26 Apr 2010 11:37 - 144 of 346
I don't think CIU will stay so high for long... take profit at 260p.
goldfinger
- 26 Apr 2010 14:01
- 145 of 346
Staying in myself.
On such a low P/E its going to out value at sometime one way or another.
On such a low P/E its going to out value at sometime one way or another.
goldfinger
- 26 Apr 2010 15:51
- 146 of 346
Into the blue for the day now.
dealerdear - 26 Apr 2010 15:58 - 147 of 346
ELO sung that .. or perhaps they were 'out of the blue'
skinny
- 26 Apr 2010 16:11
- 148 of 346
Out of the Blue was a double album from memory. Mr Blue sky was one of the tracks.
goldfinger
- 27 Apr 2010 00:25
- 149 of 346
Roll over Beethoven was my favourite.
Remember Roy Wood joing ELO for about a year.
Remember Roy Wood joing ELO for about a year.
goldfinger
- 27 Apr 2010 08:32
- 150 of 346
Recognia gives out a bullish signal for CIU
Event Details for: Continuation Diamond (Bullish) A Continuation Diamond (Bullish) is considered a bullish signal, indicating that the current uptrend may continue. Prices create higher highs and lower lows in a broadening pattern, then the trading range gradually narrows after the highs peak and the lows start trending upward. The Technical Event occurs when prices break upward out of the diamond formation to continue the prior uptrend, which confirms the pattern.
Event Date: 23 Apr 2010
Opportunity Type: Long-Term Bullish
Close Price: 264.50
Target Price Range: 321.00 - 335.00
Price Period: Daily
Volume: 2,275,943
Pattern Duration: 156 days
Inbound Trend Duration: 202 days
Event Details for: Continuation Diamond (Bullish) A Continuation Diamond (Bullish) is considered a bullish signal, indicating that the current uptrend may continue. Prices create higher highs and lower lows in a broadening pattern, then the trading range gradually narrows after the highs peak and the lows start trending upward. The Technical Event occurs when prices break upward out of the diamond formation to continue the prior uptrend, which confirms the pattern.
Event Date: 23 Apr 2010
Opportunity Type: Long-Term Bullish
Close Price: 264.50
Target Price Range: 321.00 - 335.00
Price Period: Daily
Volume: 2,275,943
Pattern Duration: 156 days
Inbound Trend Duration: 202 days
goldfinger
- 28 Apr 2010 13:43
- 151 of 346
Topped up on CAPE CIU at 254p, with a P/E of less than 7 going into 2011 its certainly very appealing.
goldfinger
- 29 Apr 2010 19:25
- 152 of 346
Broker Buy note out late yesterday, missed it at the time.
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
28-04-10 BUY 61.50 38.20 70.60 44.00
(hemscott premium)
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
28-04-10 BUY 61.50 38.20 70.60 44.00
(hemscott premium)
goldfinger
- 30 Apr 2010 09:46
- 153 of 346
Nice to see Arden Partners updating and joining the party.........
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Arden Partners
29-04-10 BUY 61.13 37.30 6.00 69.18 41.70 7.00
Panmure Gordon
29-04-10 BUY 61.50 38.20 70.60 44.00
Eden Group
01-04-10 BUY
Collins Stewart
10-03-10 BUY 63.80 39.00 70.50 43.00
Numis Securities Ltd
10-03-10 BUY 62.00 37.20 6.00 68.70 41.40 6.00
Evolution Securities Ltd
10-03-10 BUY 62.70 37.50 66.50 39.40
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 62.04 37.56 6.00 69.76 42.02 6.53
1 Month Change -0.01 0.00 0.00 0.01 -0.01 0.02
3 Month Change 1.40 1.37 6.00 -1.55 -0.11
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 11.87%
DPS % % 8.83%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 87.77m 95.60m
EBIT -12.70m m m
Dividend Yield % 2.38% 2.59%
Dividend Cover x 6.26x 6.44x
PER -31.48x 6.71x 6.00x
PEG f f 0.50f
Net Asset Value PS 46.71p p p
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Arden Partners
29-04-10 BUY 61.13 37.30 6.00 69.18 41.70 7.00
Panmure Gordon
29-04-10 BUY 61.50 38.20 70.60 44.00
Eden Group
01-04-10 BUY
Collins Stewart
10-03-10 BUY 63.80 39.00 70.50 43.00
Numis Securities Ltd
10-03-10 BUY 62.00 37.20 6.00 68.70 41.40 6.00
Evolution Securities Ltd
10-03-10 BUY 62.70 37.50 66.50 39.40
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 62.04 37.56 6.00 69.76 42.02 6.53
1 Month Change -0.01 0.00 0.00 0.01 -0.01 0.02
3 Month Change 1.40 1.37 6.00 -1.55 -0.11
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 11.87%
DPS % % 8.83%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 87.77m 95.60m
EBIT -12.70m m m
Dividend Yield % 2.38% 2.59%
Dividend Cover x 6.26x 6.44x
PER -31.48x 6.71x 6.00x
PEG f f 0.50f
Net Asset Value PS 46.71p p p
goldfinger
- 05 May 2010 12:37
- 154 of 346
More or less on a December support resistance line.
At 230p we are looking at a forward P/E of less than 6 which to my mind is crazy. Way undervalued.
This stock is a giveaway at this price. Adding to my position.
At 230p we are looking at a forward P/E of less than 6 which to my mind is crazy. Way undervalued.
This stock is a giveaway at this price. Adding to my position.
goldfinger
- 06 May 2010 10:34
- 155 of 346
2 Broker Buy notes out in the last couple of days and we are now down to a prospective P/E of just 5.4 going into 2011 which to me is completly stupid.
Dont forget we are in the Oil business services sector and should warrant at least a doubling of the present share price....................and still be cheap.
This stock is way undervalued and if we get the positive corporate news that is expected and refered to on most B/Boards then we could see a huge re- rating on this stock over the coming months (markets behaving)....
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
05-05-10 BUY 61.50 38.20 70.60 44.00
Arden Partners
04-05-10 BUY 61.13 37.30 6.00 69.18 41.70 7.00
Dont forget we are in the Oil business services sector and should warrant at least a doubling of the present share price....................and still be cheap.
This stock is way undervalued and if we get the positive corporate news that is expected and refered to on most B/Boards then we could see a huge re- rating on this stock over the coming months (markets behaving)....
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
05-05-10 BUY 61.50 38.20 70.60 44.00
Arden Partners
04-05-10 BUY 61.13 37.30 6.00 69.18 41.70 7.00
goldfinger
- 06 May 2010 13:58
- 156 of 346
Broker Collins Stewart just appearing with a reiterated Buy .....
06-May-10 Cape CIU Collins Stewart Buy 235.75p 312.00p - Reiteration
312p target seems a bit stingy.
06-May-10 Cape CIU Collins Stewart Buy 235.75p 312.00p - Reiteration
312p target seems a bit stingy.
goldfinger
- 10 May 2010 07:58
- 157 of 346
Looking for a big recovery today.
Lovely bullish chart pattern formed.........
Lovely bullish chart pattern formed.........
goldfinger
- 10 May 2010 13:37
- 158 of 346
Every broker following with a BUY recommendation. Not usually found a 'full pack' like that.
Having said that wiith a prospective P/E of just 5.4 going into 2011 they can spot hidden value.........
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
07-05-10 BUY 61.50 38.20 70.60 44.00
Arden Partners
06-05-10 BUY 61.13 37.30 6.00 69.18 41.70 7.00
Collins Stewart
06-05-10 BUY 63.80 39.00 70.50 43.00
Eden Group
01-04-10 BUY
Numis Securities Ltd
10-03-10 BUY 62.00 37.20 6.00 68.70 41.40 6.00
Evolution Securities Ltd
10-03-10 BUY 62.70 37.50 66.50 39.40
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 62.04 37.57 6.00 69.78 42.06 6.54
1 Month Change -0.01 0.01 0.00 0.03 0.04 0.02
3 Month Change 1.39 1.36 6.00 -1.52 -0.13
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 11.95%
DPS % % 9.00%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 87.77m 95.60m
EBIT -12.70m m m
Dividend Yield % 2.61% 2.85%
Dividend Cover x 6.26x 6.43x
PER -28.70x 6.12x 5.46x
PEG f f 0.46f
Net Asset Value PS 46.71p p p
Having said that wiith a prospective P/E of just 5.4 going into 2011 they can spot hidden value.........
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
07-05-10 BUY 61.50 38.20 70.60 44.00
Arden Partners
06-05-10 BUY 61.13 37.30 6.00 69.18 41.70 7.00
Collins Stewart
06-05-10 BUY 63.80 39.00 70.50 43.00
Eden Group
01-04-10 BUY
Numis Securities Ltd
10-03-10 BUY 62.00 37.20 6.00 68.70 41.40 6.00
Evolution Securities Ltd
10-03-10 BUY 62.70 37.50 66.50 39.40
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 62.04 37.57 6.00 69.78 42.06 6.54
1 Month Change -0.01 0.01 0.00 0.03 0.04 0.02
3 Month Change 1.39 1.36 6.00 -1.52 -0.13
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 11.95%
DPS % % 9.00%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 87.77m 95.60m
EBIT -12.70m m m
Dividend Yield % 2.61% 2.85%
Dividend Cover x 6.26x 6.43x
PER -28.70x 6.12x 5.46x
PEG f f 0.46f
Net Asset Value PS 46.71p p p
Big Al
- 14 May 2010 15:31
- 159 of 346
Still watching, still waiting.
goldfinger
- 15 May 2010 11:36
- 160 of 346
Yep same here.
Cant see it staying this cheap for very long.
Cant see it staying this cheap for very long.
goldfinger
- 19 May 2010 13:22
- 161 of 346
CIU CAPE PLC
Stonking following from Brokers.......all BUY recos......
trading update tomorrow....
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
18-05-10 BUY 61.50 38.20 70.60 44.00
Arden Partners
14-05-10 BUY 61.13 37.30 6.00 69.18 41.70 7.00
Collins Stewart
06-05-10 BUY 63.80 39.00 70.50 43.00
Eden Group
01-04-10 BUY
Numis Securities Ltd
10-03-10 BUY 62.00 37.20 6.00 68.70 41.40 6.00
Evolution Securities Ltd
10-03-10 BUY 62.70 37.50 66.50 39.40
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 62.03 37.57 6.00 69.79 42.06 6.54
1 Month Change -0.01 0.00 0.00 0.03 0.04 0.02
3 Month Change 1.39 1.39 6.00 0.80 2.06 6.54
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 11.95%
DPS % % 9.00%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 87.77m 95.60m
EBIT -12.70m m m
Dividend Yield % 2.67% 2.91%
Dividend Cover x 6.26x 6.43x
PER -28.11x 5.99x 5.35x
PEG f f 0.45f
Net Asset Value PS 46.71p p p
Stonking following from Brokers.......all BUY recos......
trading update tomorrow....
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
18-05-10 BUY 61.50 38.20 70.60 44.00
Arden Partners
14-05-10 BUY 61.13 37.30 6.00 69.18 41.70 7.00
Collins Stewart
06-05-10 BUY 63.80 39.00 70.50 43.00
Eden Group
01-04-10 BUY
Numis Securities Ltd
10-03-10 BUY 62.00 37.20 6.00 68.70 41.40 6.00
Evolution Securities Ltd
10-03-10 BUY 62.70 37.50 66.50 39.40
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 62.03 37.57 6.00 69.79 42.06 6.54
1 Month Change -0.01 0.00 0.00 0.03 0.04 0.02
3 Month Change 1.39 1.39 6.00 0.80 2.06 6.54
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 11.95%
DPS % % 9.00%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 87.77m 95.60m
EBIT -12.70m m m
Dividend Yield % 2.67% 2.91%
Dividend Cover x 6.26x 6.43x
PER -28.11x 5.99x 5.35x
PEG f f 0.45f
Net Asset Value PS 46.71p p p
skinny
- 20 May 2010 07:52
- 162 of 346
Interim Management and AGM Statement.
The Group is pleased to confirm that overall trading has been in line with the Board's expectations, with activity levels and operating margins remaining consistent with the same period in the prior year.
Activity levels in the Far East/Pacific Rim region are materially ahead of 2009, offsetting the expected lower activity levels in the Gulf/Middle East region this year following the high level of shutdown activity in the first quarter of 2009 and completion of a number of major projects.
There has been no significant change to Cape's financial position during the period with continued strong operating cash flows and substantial headroom available under the Group's funding facilities.
The Group is pleased to confirm that overall trading has been in line with the Board's expectations, with activity levels and operating margins remaining consistent with the same period in the prior year.
Activity levels in the Far East/Pacific Rim region are materially ahead of 2009, offsetting the expected lower activity levels in the Gulf/Middle East region this year following the high level of shutdown activity in the first quarter of 2009 and completion of a number of major projects.
There has been no significant change to Cape's financial position during the period with continued strong operating cash flows and substantial headroom available under the Group's funding facilities.
mitzy - 23 May 2010 16:20 - 163 of 346
I dont trust the management here so I'm not an investor.
goldfinger
- 23 May 2010 21:46
- 164 of 346
http://www.telegraph.co.uk/finance/newsbysector/supportservices/7746416/Questor-share-tip-Buy-Cape-catalysts-lie-ahead.html
Questor says BUY
Questor also recommended a buy at 258p in January and at 275p in March.
Questor continues to believe that the shares are undervalued. They are trading on a December 2010 earnings multiple of just 5.7 times. The company is also likely to start paying a dividend at its interim results and will probably move to the main board, with a potential inclusion in FTSE indices.
Revenues visibility in the current year is also standing at about 70pc. About half of Cape's revenues are based on essential maintenance spend of plant operators and the other half mainly based on large, multi-year duration industrial projects.
However, the shares have been essentially range-bound for the last nine months and they are currently at the bottom of this range.
What the company really needs to get the shares moving is some new major contract announcements in the second half of the year. Questor is confident that these contracts will come.
Yesterday's trading update contained no major surprises. There was a stronger performance in the Far East, including Australia, which offset the expected lull in the Middle East caused by the completion of a series of large projects.
The shares still appear undervalued and a number of catalysts lie ahead.
For this reason, Cape remains a buy.
goldfinger
- 23 May 2010 21:52
- 165 of 346
CIU(208.75p) View from the Independent(Buy):-
21/5/10
CAPE
Our view: BUY
There was good news from energy services group CAPE 's Interim management statement yesterday, which was published to coincide with its AGM. Trading has been in line with forecasts over the last year, and the board is similarly confident about the year ahead pointing out that with half the group's revenues from essential maintenance spending, and the other half mainly from multi-year contracts, Cape has an unusually clear view of future revenues.
Its global portfolio is also a big help, with strong performance from the Far East/Pacific Rim businesses offsetting lower activity levels in the Middle East due to the completion of a number of major projects in the region last year. Martin May, the chief executive, described performance as "a solid start to the year" and we can't disagree.
Cape's stock has rocketed since the post-Lehman market slump, soaring to pre-crisis levels by last September although seeing some volatility since. But the group's financials are in good shape: with net debt set to fall below 70m, it will leave the forward net debt-to-earnings ratio at 0.8 times, according to Panmure Gordon.
With defensive=looking revenues, and at a time of increasing contract wins, we see a compelling investment case. BUY
21/5/10
CAPE
Our view: BUY
There was good news from energy services group CAPE 's Interim management statement yesterday, which was published to coincide with its AGM. Trading has been in line with forecasts over the last year, and the board is similarly confident about the year ahead pointing out that with half the group's revenues from essential maintenance spending, and the other half mainly from multi-year contracts, Cape has an unusually clear view of future revenues.
Its global portfolio is also a big help, with strong performance from the Far East/Pacific Rim businesses offsetting lower activity levels in the Middle East due to the completion of a number of major projects in the region last year. Martin May, the chief executive, described performance as "a solid start to the year" and we can't disagree.
Cape's stock has rocketed since the post-Lehman market slump, soaring to pre-crisis levels by last September although seeing some volatility since. But the group's financials are in good shape: with net debt set to fall below 70m, it will leave the forward net debt-to-earnings ratio at 0.8 times, according to Panmure Gordon.
With defensive=looking revenues, and at a time of increasing contract wins, we see a compelling investment case. BUY
goldfinger
- 24 May 2010 08:07
- 166 of 346
Pro TAer Zak Mir posted the other day.......
Zak Mir
Reged: 28/06/07
Posts: 1294
Re: CAPE (CIU)
#465243 - 20/05/10 07:35 AM Edit Reply Quote
There has been an extended post August consolidation for CIU either side of that month's intraday high of 235p. While 200p - 210p support holds 270p plus is expected on a 2 - 3 month timeframe
Zak Mir
Reged: 28/06/07
Posts: 1294
Re: CAPE (CIU)
#465243 - 20/05/10 07:35 AM Edit Reply Quote
There has been an extended post August consolidation for CIU either side of that month's intraday high of 235p. While 200p - 210p support holds 270p plus is expected on a 2 - 3 month timeframe
mitzy - 25 May 2010 08:28 - 167 of 346
Careful with this gf.
skinny
- 03 Jun 2010 09:51
- 168 of 346
Just gone long on these @212.95
goldfinger
- 03 Jun 2010 11:39
- 169 of 346
Chart looks strong.
chessplayer - 16 Jun 2010 06:20 - 170 of 346
I understand that Cape is primarily involved into the gas and oil service industry. Any ideas on the likely effect of the BP oil disaster? Good,bad or otherwise
rivaldo55555 - 17 Jun 2010 13:10 - 171 of 346
Bid rumours for CIU per FT Alphaville today:
http://ftalphaville.ft.com/blog/
"have a bit of RAW
RAW is market chatter information that has not been formally tested through traditional journalistic channels (PRs etc). The story might be complete rubbish, but if we believe there is some substance to it we will say so. Either way, Reader Beware.
NH apparently
PM ooooh
PM
NH someone could be stalking Cape
Cape PLC (CIU:LSE): Last: 201.75, up 0.25 (+0.12%), High: 202.25, Low: 201.00, Volume: 1.11m
BE Hm.
NH been some decent volume recetly
PM any names in the frame?
NH not yet
NH working on that"
http://ftalphaville.ft.com/blog/
"have a bit of RAW
RAW is market chatter information that has not been formally tested through traditional journalistic channels (PRs etc). The story might be complete rubbish, but if we believe there is some substance to it we will say so. Either way, Reader Beware.
NH apparently
PM ooooh
PM
NH someone could be stalking Cape
Cape PLC (CIU:LSE): Last: 201.75, up 0.25 (+0.12%), High: 202.25, Low: 201.00, Volume: 1.11m
BE Hm.
NH been some decent volume recetly
PM any names in the frame?
NH not yet
NH working on that"
skinny
- 17 Jun 2010 13:39
- 172 of 346
In auction.
goldfinger
- 17 Jun 2010 14:37
- 173 of 346
Beat me to it skinny.
goldfinger
- 17 Jun 2010 14:37
- 174 of 346
Volume is way up.
goldfinger
- 17 Jun 2010 15:01
- 175 of 346
Heres todays Broker forecasts from hemscott premium, a full list of Buys which is rather rare.................. 2011 P/E of just 4.8 little wonder its attractive on such a cheap rating.....
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
16-06-10 BUY 61.50 38.20 70.60 44.00
Arden Partners
15-06-10 BUY 61.13 37.30 6.00 69.18 41.70 7.00
Eden Group
03-06-10 BUY
Numis Securities Ltd
21-05-10 BUY 62.00 37.20 6.00 68.70 41.40 6.00
Collins Stewart
20-05-10 BUY 63.80 39.00 70.50 43.00
Evolution Securities Ltd
20-05-10 BUY 62.70 37.50 66.50 39.40
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 62.06 37.56 6.00 69.75 42.03 6.51
1 Month Change -0.01 0.00 0.00 0.29 -0.01 0.01
3 Month Change -0.00 -0.00 0.00 -0.00 -0.00 0.01
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 11.90%
DPS % % 8.55%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 87.77m 95.60m
EBIT -12.70m m m
Dividend Yield % 2.98% 3.23%
Dividend Cover x 6.26x 6.45x
PER -25.17x 5.36x 4.80x
PEG f f 0.40f
Net Asset Value PS 46.71p p p
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
16-06-10 BUY 61.50 38.20 70.60 44.00
Arden Partners
15-06-10 BUY 61.13 37.30 6.00 69.18 41.70 7.00
Eden Group
03-06-10 BUY
Numis Securities Ltd
21-05-10 BUY 62.00 37.20 6.00 68.70 41.40 6.00
Collins Stewart
20-05-10 BUY 63.80 39.00 70.50 43.00
Evolution Securities Ltd
20-05-10 BUY 62.70 37.50 66.50 39.40
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 62.06 37.56 6.00 69.75 42.03 6.51
1 Month Change -0.01 0.00 0.00 0.29 -0.01 0.01
3 Month Change -0.00 -0.00 0.00 -0.00 -0.00 0.01
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 11.90%
DPS % % 8.55%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 87.77m 95.60m
EBIT -12.70m m m
Dividend Yield % 2.98% 3.23%
Dividend Cover x 6.26x 6.45x
PER -25.17x 5.36x 4.80x
PEG f f 0.40f
Net Asset Value PS 46.71p p p
goldfinger
- 17 Jun 2010 15:14
- 176 of 346
Well if Broker targets are a way to judge the take Out price you would be looking at a minimum of 350p as per Panmures SP target.
Date Broker name New Price Old price target New price target Broker change
20-May-10 Panmure Gordon Buy 205.00p 350.00p - Reiteration
06-May-10 Collins Stewart Buy 237.00p 312.00p - Reiteration
A 350p and 312p SP target.
Date Broker name New Price Old price target New price target Broker change
20-May-10 Panmure Gordon Buy 205.00p 350.00p - Reiteration
06-May-10 Collins Stewart Buy 237.00p 312.00p - Reiteration
A 350p and 312p SP target.
chessplayer - 17 Jun 2010 16:12 - 177 of 346
now up over 10% on day. Something going on
goldfinger
- 17 Jun 2010 17:32
- 178 of 346
Well at the lowly P/E of just about 5 to 2011 I wouldnt be suprised that rumours of a takeover materialise.
chessplayer - 17 Jun 2010 18:35 - 179 of 346
and here is the confirmation
17 June 2010
For immediate release
Cape plc
("Cape" or "the Company")
Cape notes the recent rise in its share price. It confirms that it recently received a very preliminary approach from a third party which may or may not lead to an offer for the company.
- Ends -
For further information please contact:
Cape plc
Martin May, Chief Executive Officer
Richard Bingham, Chief Financial Officer
Tel. +44 (0)20 3178 5498
Numis Securities Limited
Nominated Adviser: John Harrison, Managing Director Corporate Finance
Corporate Broker: James Serjeant, Director Corporate Broking
Tel. +44 (0)20 7260 1000
Merrill Lynch International
Andrew Tusa, Managing Director Corporate Broking Europe
Tel. +44 (0)20 7628 1000
M: Communications
Patrick d'Ancona or Ben Simons
Tel. +44 (0)20 7920 2340
17 June 2010
For immediate release
Cape plc
("Cape" or "the Company")
Cape notes the recent rise in its share price. It confirms that it recently received a very preliminary approach from a third party which may or may not lead to an offer for the company.
- Ends -
For further information please contact:
Cape plc
Martin May, Chief Executive Officer
Richard Bingham, Chief Financial Officer
Tel. +44 (0)20 3178 5498
Numis Securities Limited
Nominated Adviser: John Harrison, Managing Director Corporate Finance
Corporate Broker: James Serjeant, Director Corporate Broking
Tel. +44 (0)20 7260 1000
Merrill Lynch International
Andrew Tusa, Managing Director Corporate Broking Europe
Tel. +44 (0)20 7628 1000
M: Communications
Patrick d'Ancona or Ben Simons
Tel. +44 (0)20 7920 2340
goldfinger
- 17 Jun 2010 20:54
- 180 of 346
Superb.
Wonder what we will open at in the morning?????.
Wonder what we will open at in the morning?????.
goldfinger
- 18 Jun 2010 00:28
- 181 of 346
from the FT:
http://www.ft.com/cms/s/0/32cd3190-79e3-11df-9871-00144feabdc0.html
SMALL CAPS: Cape rises on bid approach
Cape advanced 12.9 per cent to 227p in heavy trading on talk that it was being stalked by a predator, write Neil Hume and Matthew Kennard.
After the close the industrial services group confirmed that it had recently received a very preliminary approach.
Traders said Capes long-term contracts made it a potential target for a private equity bid at a price of at least 300p a share
http://www.ft.com/cms/s/0/32cd3190-79e3-11df-9871-00144feabdc0.html
SMALL CAPS: Cape rises on bid approach
Cape advanced 12.9 per cent to 227p in heavy trading on talk that it was being stalked by a predator, write Neil Hume and Matthew Kennard.
After the close the industrial services group confirmed that it had recently received a very preliminary approach.
Traders said Capes long-term contracts made it a potential target for a private equity bid at a price of at least 300p a share
goldfinger
- 18 Jun 2010 08:18
- 182 of 346
Up nicely this morning, hoping we get to know a bit more about this bid.
HARRYCAT
- 18 Jun 2010 11:32
- 183 of 346
Rumoured to be 3i. Price offer of c300p, expected to be rejected as too low.
Broker note from Panmure Gordon:
"Despite its prospects Cape has not managed to sustain a credible valuation rating. As a result the high returns have attracted the intentions of what we presume to be a private equity bidder. In our view private equity could pay 300 325p per share. Cape has a valuable position in ROW markets, nuclear and rig decommissioning work; however and with synergies trade could pay as high as 400p.
Capes valuation (sub 6.0x PE, and sub 4.0x EV/EBITDA) has become depressed
enough to attract the attention of an early stage bidder. At yesterdays closing EV, and accordingly to our private equity return model, it offered a 5 year CAGR return of 26%.
With some pick-up in new projects, and then considering its capability in offshore rig decommissioning and in the nuclear sector, then returns can be higher.
We speculate that private equity can pay 300p-325p per share for Cape (offering a return of 13-15%. Trade buyers such as Bilfinger or Harsco Corp would be expected to pay another 60p per share to account for 10m in forecast cost synergies."
skinny
- 18 Jun 2010 12:54
- 184 of 346
Invesco Limited have disclosed a 1.38% interest
skinny
- 18 Jun 2010 12:59
- 185 of 346
FOUR Capital Partners Limited disclosed 3.21%
skinny
- 18 Jun 2010 14:42
- 186 of 346
I've just sold half for +42 - so it will probably rocket now.
skinny
- 18 Jun 2010 15:51
- 187 of 346
Schroders 3.96%
Hansa Trust 1.25%
Hansa Trust 1.25%
hlyeo98 - 22 Jun 2010 16:04 - 188 of 346
Sell CIU back to 190p...
Cape plc
("Cape" or "the Company")
On 17 June, Cape announced that it had received a very preliminary approach from a third party that may or may not lead to an offer for the Company.
Cape announces that, following subsequent discussions with that third party, all talks have now been terminated by the Company. As required by the Takeover Panel, the third party has confirmed to Cape that it is no longer actively considering making an offer for the Company and, accordingly, Cape is no longer in an offer period for the purposes of the Takeover Code.
Cape plc
("Cape" or "the Company")
On 17 June, Cape announced that it had received a very preliminary approach from a third party that may or may not lead to an offer for the Company.
Cape announces that, following subsequent discussions with that third party, all talks have now been terminated by the Company. As required by the Takeover Panel, the third party has confirmed to Cape that it is no longer actively considering making an offer for the Company and, accordingly, Cape is no longer in an offer period for the purposes of the Takeover Code.
mitzy - 22 Jun 2010 16:04 - 189 of 346
Bid off.
hlyeo98 - 22 Jun 2010 16:20 - 190 of 346
All those wild speculations a few days ago...
Analysts speculated on the identity of the possible bidder, with private equity and trade buyers such as Bilfinger Berger or Harsco Corporation both mentioned. Oliver Wynne-James at Panmure Gordon said:
Despite its prospects Cape has not managed to sustain a credible valuation rating. As a result the high returns have attracted the intentions of what we presume to be a private equity bidder. In our view private equity could pay 300-325p per share. Cape has a valuable position in [worldwide] markets, nuclear and rig decommissioning work; however and with synergies trade could pay as high as 400p.
Analysts speculated on the identity of the possible bidder, with private equity and trade buyers such as Bilfinger Berger or Harsco Corporation both mentioned. Oliver Wynne-James at Panmure Gordon said:
Despite its prospects Cape has not managed to sustain a credible valuation rating. As a result the high returns have attracted the intentions of what we presume to be a private equity bidder. In our view private equity could pay 300-325p per share. Cape has a valuable position in [worldwide] markets, nuclear and rig decommissioning work; however and with synergies trade could pay as high as 400p.
hlyeo98 - 29 Jun 2010 17:37 - 191 of 346
Sell CIU as global spending cuts will see it sub 100p.
hlyeo98 - 30 Jun 2010 16:18 - 192 of 346
197.5p now.
skinny
- 01 Jul 2010 07:51
- 193 of 346
JOINT VENTURE WITH STATE OIL COMPANY OF AZERBAIJAN
RNS Number : 6090O
Cape PLC
01 July 2010
For immediate release: 1 July 2010
CAPE PLC
("Cape" or the "Company")
CAPE ESTABLISHES JOINT VENTURE WITH STATE OIL COMPANY OF AZERBAIJAN
Cape plc, the international provider of essential, non-mechanical industrial
services principally to the energy and mineral resources sectors, is pleased to
announce the establishment of a Joint Venture with the State Oil Company of
Azerbaijan (SOCAR). The SOCAR-Cape JV, owned 51% by SOCAR and 49% by Cape, will
pursue opportunities associated with the future development of the oil and gas
sector in Azerbaijan.
The agreement was signed in Baku on 30 June 2010 by SOCAR President Rovnag
Abdullayev and Cape's regional director for CIS, Mediterranean and North Africa,
Guy Rackham.
Cape has been established in the central Asian Republic of Azerbaijan for over
ten years, both directly and through its acquisition of PCH in 2007. The
SOCAR-Cape JV will have the resources to meet the expected increased demand for
Cape's specialist non-mechanical services including access and insulation. The
Company believes there will be significant opportunities in the coming years
arising from new projects, maintenance and shutdown activities relating to the
continued development of the Azeri-Chirag-Guneshli oil project and Shah Deniz
gas condensate development project.
The establishment of this joint venture is in line with SOCAR'S strategy of
partnering with key contractors.
Martin May, Chief Executive of Cape plc, commented,
"We are delighted that SOCAR has chosen to enter into this joint venture with
Cape. Azerbaijan is a key country for the growth of Cape's CIS business owing to
its large oil and gas deposits and the significant investment in the region. A
partnership with the State oil company provides Cape with high level access to
major projects that will require our services. This is an exciting opportunity."
RNS Number : 6090O
Cape PLC
01 July 2010
For immediate release: 1 July 2010
CAPE PLC
("Cape" or the "Company")
CAPE ESTABLISHES JOINT VENTURE WITH STATE OIL COMPANY OF AZERBAIJAN
Cape plc, the international provider of essential, non-mechanical industrial
services principally to the energy and mineral resources sectors, is pleased to
announce the establishment of a Joint Venture with the State Oil Company of
Azerbaijan (SOCAR). The SOCAR-Cape JV, owned 51% by SOCAR and 49% by Cape, will
pursue opportunities associated with the future development of the oil and gas
sector in Azerbaijan.
The agreement was signed in Baku on 30 June 2010 by SOCAR President Rovnag
Abdullayev and Cape's regional director for CIS, Mediterranean and North Africa,
Guy Rackham.
Cape has been established in the central Asian Republic of Azerbaijan for over
ten years, both directly and through its acquisition of PCH in 2007. The
SOCAR-Cape JV will have the resources to meet the expected increased demand for
Cape's specialist non-mechanical services including access and insulation. The
Company believes there will be significant opportunities in the coming years
arising from new projects, maintenance and shutdown activities relating to the
continued development of the Azeri-Chirag-Guneshli oil project and Shah Deniz
gas condensate development project.
The establishment of this joint venture is in line with SOCAR'S strategy of
partnering with key contractors.
Martin May, Chief Executive of Cape plc, commented,
"We are delighted that SOCAR has chosen to enter into this joint venture with
Cape. Azerbaijan is a key country for the growth of Cape's CIS business owing to
its large oil and gas deposits and the significant investment in the region. A
partnership with the State oil company provides Cape with high level access to
major projects that will require our services. This is an exciting opportunity."
chessplayer - 01 Jul 2010 08:03 - 194 of 346
Let us hope that it is "exciting" enough to lift the price?
skinny
- 06 Jul 2010 08:04
- 195 of 346
CAPE WINS ABU DHABI CONTRACT
TIDMCIU
Cape PLC
06 July 2010
Embargoed: 0700hrs, 6 July 2010
CAPE WINS ABU DHABI CONTRACT
BOROUGE PHASE 3 PETROCHEMICAL EXPANSION PROJECT
Cape plc, the international provider of essential, non-mechanical industrial
services principally to the energy and mineral resources sectors, has been
awarded a letter of intent valued at circa US$18 million to provide Thermal
Insulation Works on the Borouge Phase 3 petrochemical project in Ruwais, Abu
Dhabi. Cape has been operating in Abu Dhabi since 1979 and this award follows
Cape's successful completion of the Thermal Insulation Works on Borouge Phases 1
& 2.
The award has been made by Consolidated Contractors International Company and
Linde Engineering, the main Engineering, Construction and Procurement (EPC)
contractors for the construction of the ethane cracker.
The Borouge Phase 3 expansion will quadruple Borouge's polyolefins production
capacity at Ruwais to over 4.5 million tonnes per year by 2013, making it the
largest integrated polyolefins site in the world.
Borouge is a leading provider of innovative, value creating plastics solutions.
A joint venture between the Abu Dhabi National Oil Company (ADNOC), one of the
world's major oil companies, and Austrian based Borealis, a leading provider of
chemical and innovative plastics solutions, the company's footprint reaches
across the Middle East, Asia Pacific, the Indian sub-continent and Africa.
TIDMCIU
Cape PLC
06 July 2010
Embargoed: 0700hrs, 6 July 2010
CAPE WINS ABU DHABI CONTRACT
BOROUGE PHASE 3 PETROCHEMICAL EXPANSION PROJECT
Cape plc, the international provider of essential, non-mechanical industrial
services principally to the energy and mineral resources sectors, has been
awarded a letter of intent valued at circa US$18 million to provide Thermal
Insulation Works on the Borouge Phase 3 petrochemical project in Ruwais, Abu
Dhabi. Cape has been operating in Abu Dhabi since 1979 and this award follows
Cape's successful completion of the Thermal Insulation Works on Borouge Phases 1
& 2.
The award has been made by Consolidated Contractors International Company and
Linde Engineering, the main Engineering, Construction and Procurement (EPC)
contractors for the construction of the ethane cracker.
The Borouge Phase 3 expansion will quadruple Borouge's polyolefins production
capacity at Ruwais to over 4.5 million tonnes per year by 2013, making it the
largest integrated polyolefins site in the world.
Borouge is a leading provider of innovative, value creating plastics solutions.
A joint venture between the Abu Dhabi National Oil Company (ADNOC), one of the
world's major oil companies, and Austrian based Borealis, a leading provider of
chemical and innovative plastics solutions, the company's footprint reaches
across the Middle East, Asia Pacific, the Indian sub-continent and Africa.
HARRYCAT
- 06 Jul 2010 08:10
- 196 of 346
Broker consensus has a target of 350p on Selftrade.
Also, trading statement due from CIU on 7th July '10.
Also, trading statement due from CIU on 7th July '10.
skinny
- 07 Jul 2010 07:51
- 197 of 346
trading Update.
Highlights:
Cape benefitting from improved operating margins and favourable exchange movements
Net debt reduced to below 100m at the half year
Board anticipates that the Company's performance for the year ending 31 December 2010 will be ahead of their previous expectations
Highlights:
Cape benefitting from improved operating margins and favourable exchange movements
Net debt reduced to below 100m at the half year
Board anticipates that the Company's performance for the year ending 31 December 2010 will be ahead of their previous expectations
skinny
- 10 Aug 2010 08:10
- 198 of 346
Cape wins 27m Algerian contract.
Cape has won a contract worth in excess of 27m for the provision of the total insulation works at the Sonatrach GL3-Z LNG Project in Arzew, Algeria. The contract was awarded by Snamprogetti Chiyoda s.a.s. di Saipem.
Work will start in the first quarter of 2011 with completion scheduled for the first half of 2012.
Cape says this is its first major LNG project contract win in North Africa since the Damietta LNG project in Egypt in 2002.
Cape has won a contract worth in excess of 27m for the provision of the total insulation works at the Sonatrach GL3-Z LNG Project in Arzew, Algeria. The contract was awarded by Snamprogetti Chiyoda s.a.s. di Saipem.
Work will start in the first quarter of 2011 with completion scheduled for the first half of 2012.
Cape says this is its first major LNG project contract win in North Africa since the Damietta LNG project in Egypt in 2002.
skinny
- 08 Sep 2010 07:08
- 199 of 346
Half Yearly Report.
Highlights
Adjusted Profit Before Tax(1) up 17.5% to 35.5m (2009: 30.2m) at AER(10) and up 19.5% at CER(10)
Adjusted operating profit margin(2) increased to 12.1% (2009: 10.5%) reflecting benefits of geographic diversification and restructuring
76% of revenues generated from the energy and mineral resources sectors
Adjusted diluted earnings per share(3) up 16.0% to 21.0p (2009: 18.1p)
Basic earnings per share up 30.1% to 21.6p (2009: 16.6p)
Free cash flow(4) up 20.0% to 19.2m (2009: 16.0m) with operating cash conversion(5) of 72.7% (2009: 73.9%)
Balance sheet continues to strengthen with net debt(6) reducing by 37.2% to 95.1m (2009: 151.5m), with ratio of net debt to annualised adjusted EBITDA(7) reducing to less than one times (2009: 1.7 times) and to within the Board's stated target range
Return to dividend list with declared interim dividend of 4.0p per share (2009: nil)
Timetable agreed for return to Main Market of LSE in Q2 2011
Order book remains at prior year levels with over 90% of consensus 2010 revenues(9) now secured
Highlights
Adjusted Profit Before Tax(1) up 17.5% to 35.5m (2009: 30.2m) at AER(10) and up 19.5% at CER(10)
Adjusted operating profit margin(2) increased to 12.1% (2009: 10.5%) reflecting benefits of geographic diversification and restructuring
76% of revenues generated from the energy and mineral resources sectors
Adjusted diluted earnings per share(3) up 16.0% to 21.0p (2009: 18.1p)
Basic earnings per share up 30.1% to 21.6p (2009: 16.6p)
Free cash flow(4) up 20.0% to 19.2m (2009: 16.0m) with operating cash conversion(5) of 72.7% (2009: 73.9%)
Balance sheet continues to strengthen with net debt(6) reducing by 37.2% to 95.1m (2009: 151.5m), with ratio of net debt to annualised adjusted EBITDA(7) reducing to less than one times (2009: 1.7 times) and to within the Board's stated target range
Return to dividend list with declared interim dividend of 4.0p per share (2009: nil)
Timetable agreed for return to Main Market of LSE in Q2 2011
Order book remains at prior year levels with over 90% of consensus 2010 revenues(9) now secured
skinny
- 08 Sep 2010 15:28
- 200 of 346
Excellent turn today around on good volume.
mitzy - 08 Sep 2010 15:39 - 201 of 346
Excellent chart.
skinny
- 08 Sep 2010 16:15
- 202 of 346
Early bath!
skinny
- 23 Sep 2010 11:22
- 203 of 346
New highs today.
skinny
- 24 Sep 2010 08:55
- 204 of 346
I know its not one of those "exciting oil companies" but, so far - another good day!
skinny
- 27 Sep 2010 12:10
- 205 of 346
And again today!
skinny
- 06 Oct 2010 09:43
- 206 of 346
New high hit again today @360.
skinny
- 22 Oct 2010 15:48
- 207 of 346
And again today!
skinny
- 26 Oct 2010 15:20
- 208 of 346
And again 373.50
skinny
- 01 Nov 2010 07:03
- 209 of 346
CAPE PLC
("Cape" or the "Company")
CHANGE TO OIL EQUIPMENT & SERVICES ICB CLASSIFICATION
Cape plc, the international provider of essential, non-mechanical industrial
services principally to the energy and mineral resources sectors announces that
it has been in discussion with FTSE regarding the reclassification of Cape as an
Oil Equipment & Services company, a description which Cape considers reflects
more accurately the weight of its business activity. The Company has been
informed that its shares are expected to be reclassified into the Oil Equipment
& Services sector with effect from 20th December 2010.
Additionally, as required by AIM Rule 17 and Schedule 2 Annex III, the Company
has updated information relating to directors of the Company on its website at:
http://www.capeplc.com/cape/pages/aboutus/ourboard
("Cape" or the "Company")
CHANGE TO OIL EQUIPMENT & SERVICES ICB CLASSIFICATION
Cape plc, the international provider of essential, non-mechanical industrial
services principally to the energy and mineral resources sectors announces that
it has been in discussion with FTSE regarding the reclassification of Cape as an
Oil Equipment & Services company, a description which Cape considers reflects
more accurately the weight of its business activity. The Company has been
informed that its shares are expected to be reclassified into the Oil Equipment
& Services sector with effect from 20th December 2010.
Additionally, as required by AIM Rule 17 and Schedule 2 Annex III, the Company
has updated information relating to directors of the Company on its website at:
http://www.capeplc.com/cape/pages/aboutus/ourboard
skinny
- 04 Nov 2010 15:45
- 210 of 346
hylo - you will be pleased to know I've just taken my profits here!
Energeticbacker - 05 Nov 2010 12:03 - 211 of 346
'Energy services group represents a tempting acquisition target'
Check out the Investors Champion 'Tempting Stocks' commentary from 11th October
http://www.investorschampion.com/tempting-stocks
Check out the Investors Champion 'Tempting Stocks' commentary from 11th October
http://www.investorschampion.com/tempting-stocks
goldfinger
- 18 Nov 2010 08:46
- 212 of 346
Brokers all have a BUY reco on it and little wonder with it being so cheap.
Forward P/E of just 8.4 going forward into 2011 derd cheap.
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
17-11-10 BUY 67.30 40.50 12.50 73.60 44.10 13.80
W H Ireland Ltd
16-11-10 BUY 69.40 41.90 12.00 75.20 44.50 13.20
Arden Partners
15-11-10 BUY 68.35 40.40 12.00 74.65 43.80 13.15
Eden Group [A]
01-10-10 BUY
Collins Stewart
20-09-10 BUY 40.40 43.00
Numis Securities Ltd
08-09-10 BUY 67.10 40.30 12.00 72.40 43.30 12.80
Evolution Securities Ltd
08-09-10 BUY 67.00 43.70 71.00 46.30
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 67.88 41.16 12.14 73.51 44.16 13.28
1 Month Change 0.02 -0.00 0.00 0.04 0.00 0.00
3 Month Change 2.83 1.48 5.27 2.41 0.83 5.45
Notes to forecasts
(07 Jul 10) A flag refers to outlook
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 7.29%
DPS % % 9.33%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 95.16m 99.73m
EBIT -12.70m m m
Dividend Yield % 3.27% 3.58%
Dividend Cover x 3.39x 3.33x
PER -46.35x 9.02x 8.40x
PEG f f 1.15f
Net Asset Value PS 46.71p p p
Forward P/E of just 8.4 going forward into 2011 derd cheap.
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
17-11-10 BUY 67.30 40.50 12.50 73.60 44.10 13.80
W H Ireland Ltd
16-11-10 BUY 69.40 41.90 12.00 75.20 44.50 13.20
Arden Partners
15-11-10 BUY 68.35 40.40 12.00 74.65 43.80 13.15
Eden Group [A]
01-10-10 BUY
Collins Stewart
20-09-10 BUY 40.40 43.00
Numis Securities Ltd
08-09-10 BUY 67.10 40.30 12.00 72.40 43.30 12.80
Evolution Securities Ltd
08-09-10 BUY 67.00 43.70 71.00 46.30
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 67.88 41.16 12.14 73.51 44.16 13.28
1 Month Change 0.02 -0.00 0.00 0.04 0.00 0.00
3 Month Change 2.83 1.48 5.27 2.41 0.83 5.45
Notes to forecasts
(07 Jul 10) A flag refers to outlook
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 7.29%
DPS % % 9.33%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 95.16m 99.73m
EBIT -12.70m m m
Dividend Yield % 3.27% 3.58%
Dividend Cover x 3.39x 3.33x
PER -46.35x 9.02x 8.40x
PEG f f 1.15f
Net Asset Value PS 46.71p p p
skinny
- 06 Dec 2010 15:09
- 213 of 346
Fresh highs again today.
goldfinger
- 10 Dec 2010 08:19
- 214 of 346
everyone a Buyer. its so cheap.
a 2011 fprward P/E of just over 8.
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
09-12-10 BUY 67.30 40.50 12.50 73.60 44.10 13.80
Arden Partners
08-12-10 BUY 68.35 40.40 12.00 74.65 43.80 13.15
W H Ireland Ltd
08-12-10 BUY 69.40 41.90 12.00 75.20 44.50 13.20
Eden Group
01-10-10 BUY
Collins Stewart
20-09-10 BUY 40.40 43.00
Numis Securities Ltd
08-09-10 BUY 67.10 40.30 12.00 72.40 43.30 12.80
Evolution Securities Ltd
08-09-10 BUY 67.00 43.70 71.00 46.30
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 67.89 41.15 12.14 73.53 44.16 13.28
1 Month Change 0.03 0.00 -0.00 0.05 0.00 0.00
3 Month Change 0.06 -0.05 0.02 0.16 -0.01 0.04
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 7.30%
DPS % % 9.35%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 95.19m 99.77m
EBIT -12.70m m m
Dividend Yield % 3.12% 3.42%
Dividend Cover x 3.39x 3.33x
PER -48.56x 9.45x 8.80x
PEG f f 1.21f
Net Asset Value PS 46.71p p p
a 2011 fprward P/E of just over 8.
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
09-12-10 BUY 67.30 40.50 12.50 73.60 44.10 13.80
Arden Partners
08-12-10 BUY 68.35 40.40 12.00 74.65 43.80 13.15
W H Ireland Ltd
08-12-10 BUY 69.40 41.90 12.00 75.20 44.50 13.20
Eden Group
01-10-10 BUY
Collins Stewart
20-09-10 BUY 40.40 43.00
Numis Securities Ltd
08-09-10 BUY 67.10 40.30 12.00 72.40 43.30 12.80
Evolution Securities Ltd
08-09-10 BUY 67.00 43.70 71.00 46.30
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 67.89 41.15 12.14 73.53 44.16 13.28
1 Month Change 0.03 0.00 -0.00 0.05 0.00 0.00
3 Month Change 0.06 -0.05 0.02 0.16 -0.01 0.04
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 7.30%
DPS % % 9.35%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 95.19m 99.77m
EBIT -12.70m m m
Dividend Yield % 3.12% 3.42%
Dividend Cover x 3.39x 3.33x
PER -48.56x 9.45x 8.80x
PEG f f 1.21f
Net Asset Value PS 46.71p p p
goldfinger
- 13 Dec 2010 08:16
- 215 of 346
Top performing Fund Manager Mark Slater has recently revealed his "5 Winners For 2011". These are all stocks in his existing MFM Slater Growth portfolio which produced a return of 82.7% in the year to the end of October, easily out performing the 17.6% by the FTSE All Share over the same period.
http://www.trustnet.com/Factsheets/Factsheet.aspx?fundCode=W...
His 5 winners include AIM listed CIU
http://www.trustnet.com/Factsheets/Factsheet.aspx?fundCode=W...
His 5 winners include AIM listed CIU
goldfinger
- 15 Dec 2010 07:59
- 216 of 346
CIU (cape)
I really like the look of this chart and see the pullback on tuesday as a positive development and can see the top of channel range being hit fairly quickly.
I really like the look of this chart and see the pullback on tuesday as a positive development and can see the top of channel range being hit fairly quickly.
goldfinger
- 17 Dec 2010 12:04
- 217 of 346
Derd cheap and brokers love it. Just look how cheap it is make no wonder the Slaters like this stock. Forward P/E of just 8.9 to 2011, its one of the CHEAPEST AND FASTEST GROWING COMPANYS ON THE LSE.
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
16-12-10 BUY 67.30 40.50 12.50 73.60 44.10 13.80
Arden Partners
14-12-10 BUY 68.35 40.40 12.00 74.65 43.80 13.15
W H Ireland Ltd
10-12-10 BUY 69.40 41.90 12.00 75.20 44.50 13.20
Fyshe Horton Finney Ltd
25-11-10 BUY
Eden Group
01-10-10 BUY
Collins Stewart
20-09-10 BUY 40.40 43.00
Numis Securities Ltd
08-09-10 BUY 67.10 40.30 12.00 72.40 43.30 12.80
Evolution Securities Ltd
08-09-10 BUY 67.00 43.70 71.00 46.30
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 67.92 41.12 12.15 73.61 44.15 13.30
1 Month Change 0.04 -0.03 0.01 0.11 -0.01 0.02
3 Month Change 0.08 -0.07 0.02 0.23 -0.02 0.05
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 7.36%
DPS % % 9.43%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 95.26m 99.90m
EBIT -12.70m m m
Dividend Yield % 3.08% 3.37%
Dividend Cover x 3.38x 3.32x
PER -49.34x 9.60x 8.95x
PEG f f 1.22f
Net Asset Value PS 46.71p p p
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
16-12-10 BUY 67.30 40.50 12.50 73.60 44.10 13.80
Arden Partners
14-12-10 BUY 68.35 40.40 12.00 74.65 43.80 13.15
W H Ireland Ltd
10-12-10 BUY 69.40 41.90 12.00 75.20 44.50 13.20
Fyshe Horton Finney Ltd
25-11-10 BUY
Eden Group
01-10-10 BUY
Collins Stewart
20-09-10 BUY 40.40 43.00
Numis Securities Ltd
08-09-10 BUY 67.10 40.30 12.00 72.40 43.30 12.80
Evolution Securities Ltd
08-09-10 BUY 67.00 43.70 71.00 46.30
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 67.92 41.12 12.15 73.61 44.15 13.30
1 Month Change 0.04 -0.03 0.01 0.11 -0.01 0.02
3 Month Change 0.08 -0.07 0.02 0.23 -0.02 0.05
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 7.36%
DPS % % 9.43%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 95.26m 99.90m
EBIT -12.70m m m
Dividend Yield % 3.08% 3.37%
Dividend Cover x 3.38x 3.32x
PER -49.34x 9.60x 8.95x
PEG f f 1.22f
Net Asset Value PS 46.71p p p
skinny
- 06 Jan 2011 07:32
- 218 of 346
Trading Statement
Cape plc, the international provider of essential, non-mechanical industrial services principally to the energy and mineral resources sectors, is pleased to confirm that trading in the year to 31 December 2010 was in line with expectations.
As anticipated, the Group's overall activity and revenue levels have remained broadly consistent with the prior year. Cape has continued to benefit from its international footprint across strategically important growth markets within the energy sector. On a regional basis, the pattern seen in the first half of 2010 continued through the rest of the year with higher activity levels in the Far East/Pacific Rim region offsetting the expected lower activity levels in the Gulf/Middle East and UK regions.
Cape plc, the international provider of essential, non-mechanical industrial services principally to the energy and mineral resources sectors, is pleased to confirm that trading in the year to 31 December 2010 was in line with expectations.
As anticipated, the Group's overall activity and revenue levels have remained broadly consistent with the prior year. Cape has continued to benefit from its international footprint across strategically important growth markets within the energy sector. On a regional basis, the pattern seen in the first half of 2010 continued through the rest of the year with higher activity levels in the Far East/Pacific Rim region offsetting the expected lower activity levels in the Gulf/Middle East and UK regions.
goldfinger
- 06 Jan 2011 07:43
- 219 of 346
And.....
excelent news very significant for
CIU..........
Cash generation has again been strong with net debt expected to have halved in the year to less than 57m at the year end.
The Group is also pleased to announce that it has successfully refinanced its banking facilities on favourable terms through to June 2015. The new 220m syndicated credit facility with Lloyds Banking Group, Barclays Bank, National Australia Bank and HSBC, acting as joint mandated lead arrangers, provides Cape with a strong financial platform and the flexibility to support future growth.
excelent news very significant for
CIU..........
Cash generation has again been strong with net debt expected to have halved in the year to less than 57m at the year end.
The Group is also pleased to announce that it has successfully refinanced its banking facilities on favourable terms through to June 2015. The new 220m syndicated credit facility with Lloyds Banking Group, Barclays Bank, National Australia Bank and HSBC, acting as joint mandated lead arrangers, provides Cape with a strong financial platform and the flexibility to support future growth.
goldfinger
- 06 Jan 2011 08:57
- 220 of 346
Just look at this.... every Broker with a Buy reco.
Doesnt happen very often that. (from hemscott premium this morning)
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
05-01-11 BUY 67.30 40.50 12.50 73.60 44.10 13.80
Numis Securities Ltd
04-01-11 BUY 68.80 41.00 4.00 71.20 43.60 12.00
Arden Partners
03-01-11 BUY 68.35 40.40 12.00 74.65 43.80 13.15
Shore Capital
31-12-10 BUY 67.20 40.50 12.00 70.60 43.60 13.50
W H Ireland Ltd
17-12-10 BUY 69.40 41.90 12.00 75.20 44.50 13.20
Fyshe Horton Finney Ltd
25-11-10 BUY
Eden Group
01-10-10 BUY
Collins Stewart
20-09-10 BUY 40.40 43.00
Evolution Securities Ltd
08-09-10 BUY 67.00 43.70 71.00 46.30
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 68.06 41.00 10.12 72.58 43.98 13.08
1 Month Change 0.16 -0.15 -2.02 -0.95 -0.18 -0.19
3 Month Change 0.21 -0.19 -2.01 -0.83 -0.18 -0.16
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 7.27%
DPS % % 29.32%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 95.37m 100.12m
EBIT -12.70m m m
Dividend Yield 0.00% 2.45% 3.17%
Dividend Cover x 4.05x 3.36x
PER -51.53x 10.06x 9.38x
PEG f f 1.29f
Net Asset Value PS 46.71p p p
Forward P/E of just over 9 for this year ending
WAY TOO CHEAP.
Doesnt happen very often that. (from hemscott premium this morning)
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
05-01-11 BUY 67.30 40.50 12.50 73.60 44.10 13.80
Numis Securities Ltd
04-01-11 BUY 68.80 41.00 4.00 71.20 43.60 12.00
Arden Partners
03-01-11 BUY 68.35 40.40 12.00 74.65 43.80 13.15
Shore Capital
31-12-10 BUY 67.20 40.50 12.00 70.60 43.60 13.50
W H Ireland Ltd
17-12-10 BUY 69.40 41.90 12.00 75.20 44.50 13.20
Fyshe Horton Finney Ltd
25-11-10 BUY
Eden Group
01-10-10 BUY
Collins Stewart
20-09-10 BUY 40.40 43.00
Evolution Securities Ltd
08-09-10 BUY 67.00 43.70 71.00 46.30
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 68.06 41.00 10.12 72.58 43.98 13.08
1 Month Change 0.16 -0.15 -2.02 -0.95 -0.18 -0.19
3 Month Change 0.21 -0.19 -2.01 -0.83 -0.18 -0.16
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 7.27%
DPS % % 29.32%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 95.37m 100.12m
EBIT -12.70m m m
Dividend Yield 0.00% 2.45% 3.17%
Dividend Cover x 4.05x 3.36x
PER -51.53x 10.06x 9.38x
PEG f f 1.29f
Net Asset Value PS 46.71p p p
Forward P/E of just over 9 for this year ending
WAY TOO CHEAP.
skinny
- 07 Jan 2011 15:42
- 221 of 346
Business as usual.
goldfinger
- 07 Jan 2011 15:56
- 222 of 346
Update on Cape by GCI
Resource sector services specialist Cape says 2010's results will show a halving of debt and growth in the Far East and Pacific Rim. In a positive trading statement, the Uxbridge-based AIM business says trading for the year was 'in line with expectations' and indicates it expects to return to 'sustained organic revenue growth' in the second half of this year.
Cape lost 1.5 million 2009 after 74.2 million costs stemming from its past involvement with disease-generating asbestos, but analysts argue it has now made full provision for these liabilities. Steered by chief executive officer Martin Kay, the company, which for example has had a role in building all of Australia's liquid natural gas trains, says it is benefiting from an incipient increase in capital expenditure in the global energy sector.
Buoyant Far Eastern and Pacific Rim business helped offset lower activity in the Middle East, Gulf and UK last year, according to Cape, which says it generated enough cash to halve net debt to 57 million.The company has refinanced its banking facilities 'on favourable terms', with a new 220 million syndicated credit facility arranged by Lloyds Banking Group, Barclays, National Australia bank and others.
Analysts now expect pre-tax profits of more than 68 million for 2010, rising to 71 million this year and with 79 million on the cards for 2012. The shares have virtually doubled to 412.5p since Growth Company Investor's recommendation two years ago and now value the company at 482 million, for an undemanding price/earnings ratio of 10. The momentum should continue.
http://www.growthcompany.co.uk/news/1309978/cape-growth-helps-slash-debts.thtml
--------------------------------------------------------------------------------
Resource sector services specialist Cape says 2010's results will show a halving of debt and growth in the Far East and Pacific Rim. In a positive trading statement, the Uxbridge-based AIM business says trading for the year was 'in line with expectations' and indicates it expects to return to 'sustained organic revenue growth' in the second half of this year.
Cape lost 1.5 million 2009 after 74.2 million costs stemming from its past involvement with disease-generating asbestos, but analysts argue it has now made full provision for these liabilities. Steered by chief executive officer Martin Kay, the company, which for example has had a role in building all of Australia's liquid natural gas trains, says it is benefiting from an incipient increase in capital expenditure in the global energy sector.
Buoyant Far Eastern and Pacific Rim business helped offset lower activity in the Middle East, Gulf and UK last year, according to Cape, which says it generated enough cash to halve net debt to 57 million.The company has refinanced its banking facilities 'on favourable terms', with a new 220 million syndicated credit facility arranged by Lloyds Banking Group, Barclays, National Australia bank and others.
Analysts now expect pre-tax profits of more than 68 million for 2010, rising to 71 million this year and with 79 million on the cards for 2012. The shares have virtually doubled to 412.5p since Growth Company Investor's recommendation two years ago and now value the company at 482 million, for an undemanding price/earnings ratio of 10. The momentum should continue.
http://www.growthcompany.co.uk/news/1309978/cape-growth-helps-slash-debts.thtml
--------------------------------------------------------------------------------
goldfinger
- 07 Jan 2011 16:03
- 223 of 346
Telegraph
Questor share tip: Cape is still undervalued despite gain
Cape
413p +1
Questor says BUY
http://www.telegraph.co.uk/finance/markets/questor/8244264/Questor-share-tip-Cape-is-still-undervalued-despite-gain.html
Questor share tip: Cape is still undervalued despite gain
Cape
413p +1
Questor says BUY
http://www.telegraph.co.uk/finance/markets/questor/8244264/Questor-share-tip-Cape-is-still-undervalued-despite-gain.html
goldfinger
- 07 Jan 2011 16:10
- 224 of 346
Cape looks to 'golden years' as trade improvesPremium Article ! Date: 06 January 2011
By Ros Snowdon City Editor
ENERGY services group Cape is confident about future trading as capital expenditure in the global energy sector picks up in the second half of the year.
Cape, which has its UK operations in Wakefield, said it expects a return to sustained organic revenue growth from the second half of 2011.
It added that trading in 2010 was in line with expectations and revenue levels have remained broadly consist
ADVERTISEMENTent with the previous year.
Cape provides a range of 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.
The group has seen higher activity levels in the Far East and Pacific Rim region, which has offset the expected lower activity levels in the Gulf, Middle East and UK regions.
Cape added that it has refinanced its banking facilities on favourable terms through to June 2015. It said that the new 220m syndicated credit facility with Lloyds Banking Group, Barclays Bank, National Australia Bank and HSBC provides the company with a strong financial platform and the flexibility to support future growth.
Cape's shares rose 0.90p to 412.68p last night. The shares have rocketed since September when the group cheered shareholders with the first dividend payment in 10 years and outlined plans to move on to the main London market this year. The group, which is currently listed on AIM, reported a steep increase in first-half profits in the six months to the end of June, boosted by its Australian and Asian operations.
The company, which counts EDF, BP and National Grid among its customers, said adjusted pre-tax profits rose by 17.5 per cent to 35.5m for the first six months of 2010.
Cape anticipates a good first half in 2011 and substantial growth from then on.
Chief executive Martin May said recent large contract wins will boost results from this year onwards.
"I think it's from the second half of 2011 you're going to see a return to reasonably strong organic growth," he said. "I think 2012, 2013 and 2014 internationally will be golden years for Cape, given the investment that's going on in Australia, Asia and the Caspian."
Recent contract wins include a 22.5m deal to provide insulation works for a liquefied natural gas (LNG) project in Algeria. Work on the contract, awarded by Algerian company Snamprogetti Chiyoda, will start in the first quarter of this year with completion scheduled for the first half of 2012.
Cape has also won a 12m contract to provide thermal insulation works on a petrochemical project in Ruwais in Abu Dhabi
Analysts said the group is continuing to move forward and is benefiting from its broad geographic reach, pursuit of bundled services and keen management of costs.
They believe that the move onto the dividend list will spark interest in the shares. Cape said it would pay an interim dividend of 4p per share after a 10-year hiatus.
Cape said it would seek a move in the second quarter of 2011 to the main market of the London Stock Exchange. If the company was to move now it would become part of the midcap index.
Cape also said it would look to make selective acquisitions after it reduced net debt by 37.2 per cent to 95.1m from a year earlier.
The group is expected to make full-year pre-tax profits of around 64m.
New non-exec director named
Cape has appointed Michael Merton as a non-executive director with effect from January 10.
The group said that Mr Merton is a chartered accountant with significant experience in the international resources industry, having spent the majority of his executive career at Rio Tinto.
He held a number of senior operational roles around the world at Rio Tinto, including head of global business services from 2005 to 2009 and was a member of the executive committee.
He is currently a non-executive director of BlackRock Commodities Income Investment Trust plc, and a trustee of the Rio Tinto Pension Fund and the HALO Trust.
http://www.yorkshirepost.co.uk/businessnews/Cape-looks-to-39golden-years39.6682323.jp
By Ros Snowdon City Editor
ENERGY services group Cape is confident about future trading as capital expenditure in the global energy sector picks up in the second half of the year.
Cape, which has its UK operations in Wakefield, said it expects a return to sustained organic revenue growth from the second half of 2011.
It added that trading in 2010 was in line with expectations and revenue levels have remained broadly consist
ADVERTISEMENTent with the previous year.
Cape provides a range of 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.
The group has seen higher activity levels in the Far East and Pacific Rim region, which has offset the expected lower activity levels in the Gulf, Middle East and UK regions.
Cape added that it has refinanced its banking facilities on favourable terms through to June 2015. It said that the new 220m syndicated credit facility with Lloyds Banking Group, Barclays Bank, National Australia Bank and HSBC provides the company with a strong financial platform and the flexibility to support future growth.
Cape's shares rose 0.90p to 412.68p last night. The shares have rocketed since September when the group cheered shareholders with the first dividend payment in 10 years and outlined plans to move on to the main London market this year. The group, which is currently listed on AIM, reported a steep increase in first-half profits in the six months to the end of June, boosted by its Australian and Asian operations.
The company, which counts EDF, BP and National Grid among its customers, said adjusted pre-tax profits rose by 17.5 per cent to 35.5m for the first six months of 2010.
Cape anticipates a good first half in 2011 and substantial growth from then on.
Chief executive Martin May said recent large contract wins will boost results from this year onwards.
"I think it's from the second half of 2011 you're going to see a return to reasonably strong organic growth," he said. "I think 2012, 2013 and 2014 internationally will be golden years for Cape, given the investment that's going on in Australia, Asia and the Caspian."
Recent contract wins include a 22.5m deal to provide insulation works for a liquefied natural gas (LNG) project in Algeria. Work on the contract, awarded by Algerian company Snamprogetti Chiyoda, will start in the first quarter of this year with completion scheduled for the first half of 2012.
Cape has also won a 12m contract to provide thermal insulation works on a petrochemical project in Ruwais in Abu Dhabi
Analysts said the group is continuing to move forward and is benefiting from its broad geographic reach, pursuit of bundled services and keen management of costs.
They believe that the move onto the dividend list will spark interest in the shares. Cape said it would pay an interim dividend of 4p per share after a 10-year hiatus.
Cape said it would seek a move in the second quarter of 2011 to the main market of the London Stock Exchange. If the company was to move now it would become part of the midcap index.
Cape also said it would look to make selective acquisitions after it reduced net debt by 37.2 per cent to 95.1m from a year earlier.
The group is expected to make full-year pre-tax profits of around 64m.
New non-exec director named
Cape has appointed Michael Merton as a non-executive director with effect from January 10.
The group said that Mr Merton is a chartered accountant with significant experience in the international resources industry, having spent the majority of his executive career at Rio Tinto.
He held a number of senior operational roles around the world at Rio Tinto, including head of global business services from 2005 to 2009 and was a member of the executive committee.
He is currently a non-executive director of BlackRock Commodities Income Investment Trust plc, and a trustee of the Rio Tinto Pension Fund and the HALO Trust.
http://www.yorkshirepost.co.uk/businessnews/Cape-looks-to-39golden-years39.6682323.jp
goldfinger
- 17 Jan 2011 08:30
- 225 of 346
Recent broker note a few have missed:
Date Broker name New Price Old price target New price target Broker change
12-Jan-11 Panmure Gordon Buy 467.00p 430.00p 550.00p Reiteration
550p SP target,
Date Broker name New Price Old price target New price target Broker change
12-Jan-11 Panmure Gordon Buy 467.00p 430.00p 550.00p Reiteration
550p SP target,
goldfinger
- 17 Jan 2011 14:56
- 226 of 346
Brokers ALL backing it...
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
14-01-11 BUY 67.30 40.50 12.50 73.60 44.10 13.80
Arden Partners
13-01-11 BUY 68.35 40.40 12.00 74.65 43.80 13.15
W H Ireland Ltd
11-01-11 BUY 69.40 41.90 12.00 75.20 44.50 13.20
Evolution Securities Ltd
10-01-11 BUY 67.90 44.30 12.00 71.00 46.30 13.50
Shore Capital
07-01-11 BUY 67.20 40.50 12.00 70.60 43.60 13.50
Numis Securities Ltd
06-01-11 BUY 68.80 41.00 4.00 71.20 43.60 12.00
Fyshe Horton Finney Ltd
25-11-10 BUY
Eden Group
01-10-10 BUY
Collins Stewart
20-09-10 BUY 40.40 43.00
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 68.07 41.41 10.62 72.45 44.27 13.20
1 Month Change 0.15 0.29 -1.53 -1.16 0.12 -0.10
3 Month Change 0.21 0.23 -1.51 -0.98 0.11 -0.05
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 6.89%
DPS % % 24.33%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 94.16m 97.98m
EBIT -12.70m m m
Dividend Yield 0.00% 2.33% 2.90%
Dividend Cover x 3.90x 3.35x
PER -56.84x 10.99x 10.28x
PEG f f 1.49f
Net Asset Value PS 46.71p p p
Cape PLC
FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Panmure Gordon
14-01-11 BUY 67.30 40.50 12.50 73.60 44.10 13.80
Arden Partners
13-01-11 BUY 68.35 40.40 12.00 74.65 43.80 13.15
W H Ireland Ltd
11-01-11 BUY 69.40 41.90 12.00 75.20 44.50 13.20
Evolution Securities Ltd
10-01-11 BUY 67.90 44.30 12.00 71.00 46.30 13.50
Shore Capital
07-01-11 BUY 67.20 40.50 12.00 70.60 43.60 13.50
Numis Securities Ltd
06-01-11 BUY 68.80 41.00 4.00 71.20 43.60 12.00
Fyshe Horton Finney Ltd
25-11-10 BUY
Eden Group
01-10-10 BUY
Collins Stewart
20-09-10 BUY 40.40 43.00
2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 68.07 41.41 10.62 72.45 44.27 13.20
1 Month Change 0.15 0.29 -1.53 -1.16 0.12 -0.10
3 Month Change 0.21 0.23 -1.51 -0.98 0.11 -0.05
GROWTH
2009 (A) 2010 (E) 2011 (E)
Norm. EPS % % 6.89%
DPS % % 24.33%
INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)
EBITDA 6.00m 94.16m 97.98m
EBIT -12.70m m m
Dividend Yield 0.00% 2.33% 2.90%
Dividend Cover x 3.90x 3.35x
PER -56.84x 10.99x 10.28x
PEG f f 1.49f
Net Asset Value PS 46.71p p p
skinny
- 20 Jan 2011 16:11
- 227 of 346
JP Morgan < 5%
skinny
- 24 Jan 2011 07:29
- 228 of 346
Change of Corporate Broker
Cape plc, the international provider of essential, non-mechanical industrial services principally to the energy and mineral resources sectors, is pleased to announce the appointment of Jp Morgan Cazenove as financial adviser and joint corporate broker with immediate effect.
JP Morgan Cazenove will act alongside Numis Securities Limited, Cape's existing Nominated Adviser and joint corporate broker.
Cape plc, the international provider of essential, non-mechanical industrial services principally to the energy and mineral resources sectors, is pleased to announce the appointment of Jp Morgan Cazenove as financial adviser and joint corporate broker with immediate effect.
JP Morgan Cazenove will act alongside Numis Securities Limited, Cape's existing Nominated Adviser and joint corporate broker.
skinny
- 02 Mar 2011 09:43
- 229 of 346
Final Results.
Highlights
Adjusted profit before tax(1) up 13.8% to 69.1m (2009: 60.7m) at AER (increase of 10.2% at CER)
Adjusted operating profit margin(2) improved to 12% (2009: 10.8%)
Adjusted diluted earnings per share(3) up 13.6% to 42.6p (2009: 37.5p)
Basic earnings per share increased to 42.6p (2009: (3.5)p)
Free cash flow(4) up 17.4% to 68.0m (2009: 57.9m) with operating cash conversion(5) of 103.1% (2009: 95.9%)
Balance sheet continues to strengthen, with net debt(6) halved to 52.9m (2009: 113.6m) and ratio of net debt to adjusted EBITDA(8) reducing to just 0.6 times (2009: 1.3 times)
Proposed final dividend of 8.0p per share (2009: nil) making a full year dividend of 12.0p (2009: nil)
On track for return to London Stock Exchange Main Market in Q2 2011
Forthcoming appointment of Tim Eggar as Cape's new non-executive Chairman(18)
6% growth in order book with over 63% of consensus 2011 revenues(9) now secured
Highlights
Adjusted profit before tax(1) up 13.8% to 69.1m (2009: 60.7m) at AER (increase of 10.2% at CER)
Adjusted operating profit margin(2) improved to 12% (2009: 10.8%)
Adjusted diluted earnings per share(3) up 13.6% to 42.6p (2009: 37.5p)
Basic earnings per share increased to 42.6p (2009: (3.5)p)
Free cash flow(4) up 17.4% to 68.0m (2009: 57.9m) with operating cash conversion(5) of 103.1% (2009: 95.9%)
Balance sheet continues to strengthen, with net debt(6) halved to 52.9m (2009: 113.6m) and ratio of net debt to adjusted EBITDA(8) reducing to just 0.6 times (2009: 1.3 times)
Proposed final dividend of 8.0p per share (2009: nil) making a full year dividend of 12.0p (2009: nil)
On track for return to London Stock Exchange Main Market in Q2 2011
Forthcoming appointment of Tim Eggar as Cape's new non-executive Chairman(18)
6% growth in order book with over 63% of consensus 2011 revenues(9) now secured
goldfinger
- 02 Mar 2011 12:30
- 230 of 346
Lovely SP rise this morning. Flogged a few and left the rest in for free.
skinny
- 03 Mar 2011 14:20
- 231 of 346
12 month high today and 1 range in the last week.
skinny
- 06 Apr 2011 11:33
- 232 of 346
Cape off and running today.
skinny
- 16 May 2011 07:15
- 233 of 346
Interim Management Statement.
Trading
The Group is pleased to confirm that overall trading has been in line with the Board's expectations, with activity levels and operating margins consistent with the same period in the prior year. Regional/segmental activity levels were as anticipated, with the CIS/Mediterranean & North Africa region and Far East/Pacific Rim region both ahead of the same period in 2010, offsetting the continued lower activity levels in the Gulf/Middle East region.
Corporate expenses
As expected, GBP3.5m of non-recurring corporate charges have been incurred in the year to date comprising GBP2m in relation to the move from AIM to the LSE's main market and the corporate restructuring involving a new Jersey-incorporated Group holding company (announced with the preliminary results on 2 March 2011) and a GBP1.5m charge representing the unamortised facility fees arising on the early cancellation of the Group's 2007 syndicated bank facility.
Financial position
There have been no significant changes to the financial position of the Group since the publication of its preliminary results for the financial year ended 31 December 2010 on 2 March 2011. As announced on 6 January 2011, the Group's new GBP220m bank facility through to June 2015 provides a strong financial platform and the flexibility to support future growth.
Chairman
As announced on 3 May 2011, Tim Eggar, former Minister for Energy, was appointed Non-Executive Chairman on 1 May 2011.
Trading
The Group is pleased to confirm that overall trading has been in line with the Board's expectations, with activity levels and operating margins consistent with the same period in the prior year. Regional/segmental activity levels were as anticipated, with the CIS/Mediterranean & North Africa region and Far East/Pacific Rim region both ahead of the same period in 2010, offsetting the continued lower activity levels in the Gulf/Middle East region.
Corporate expenses
As expected, GBP3.5m of non-recurring corporate charges have been incurred in the year to date comprising GBP2m in relation to the move from AIM to the LSE's main market and the corporate restructuring involving a new Jersey-incorporated Group holding company (announced with the preliminary results on 2 March 2011) and a GBP1.5m charge representing the unamortised facility fees arising on the early cancellation of the Group's 2007 syndicated bank facility.
Financial position
There have been no significant changes to the financial position of the Group since the publication of its preliminary results for the financial year ended 31 December 2010 on 2 March 2011. As announced on 6 January 2011, the Group's new GBP220m bank facility through to June 2015 provides a strong financial platform and the flexibility to support future growth.
Chairman
As announced on 3 May 2011, Tim Eggar, former Minister for Energy, was appointed Non-Executive Chairman on 1 May 2011.
skinny
- 03 Jun 2011 08:15
- 234 of 346
Excellent start today.
goldfinger
- 03 Jun 2011 09:22
- 235 of 346
Clearly way undervalued is CIU forward P/E of just over 10 to 2012. P/E at moment 11.3 sector average 17.4 Way way way too cheap.......
Cape PLC
FORECASTS 2011 2012
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Arden Partners
31-05-11 BUY 74.65 44.90 13.20 83.30 50.40 14.80
Altium Securities
25-05-11 BUY 73.70 45.70 13.20 83.90 52.60 14.50
Panmure Gordon
25-05-11 HOLD 72.70 45.00 13.80 76.60 47.60 15.10
Shore Capital
20-05-11 BUY 70.60 43.60 13.50 79.00 49.00 15.00
Investec Securities
17-05-11 BUY 65.54 43.77 13.13 75.52 50.30 14.08
Evolution Securities Ltd
16-05-11 ADD 71.00 45.53 81.00 52.19
Numis Securities Ltd
16-05-11 BUY 72.40 44.50 12.00 80.90 50.00 12.00
Eden Group
07-04-11 TPR
W H Ireland Ltd
02-02-11 BUY 75.20 44.50 13.20 85.50 51.10 14.50
Fyshe Horton Finney Ltd
25-11-10 BUY
2011 2012
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p
)
Consensus 71.39 44.70 13.11 80.00 50.34 14.19
1 Month Change -1.37 -0.16 -0.12 -0.81 0.24 -0.21
3 Month Change -1.08 0.42 -0.13 0.35 0.88 0.19
GROWTH
2010 (A) 2011 (E) 2012 (E)
Norm. EPS % 9.62% 12.62%
DPS % 227.80% 8.23%
INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)
EBITDA 92.10m 99.95m 107.66m
EBIT 72.10m m m
Dividend Yield 0.75% 2.46% 2.66%
Dividend Cover 10.20x 3.41x 3.55x
PER 13.09x 11.94x 10.61x
PEG f 1.24f 0.84f
Net Asset Value PS 102.89p 302.10p 338.80p
Cape PLC
FORECASTS 2011 2012
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Arden Partners
31-05-11 BUY 74.65 44.90 13.20 83.30 50.40 14.80
Altium Securities
25-05-11 BUY 73.70 45.70 13.20 83.90 52.60 14.50
Panmure Gordon
25-05-11 HOLD 72.70 45.00 13.80 76.60 47.60 15.10
Shore Capital
20-05-11 BUY 70.60 43.60 13.50 79.00 49.00 15.00
Investec Securities
17-05-11 BUY 65.54 43.77 13.13 75.52 50.30 14.08
Evolution Securities Ltd
16-05-11 ADD 71.00 45.53 81.00 52.19
Numis Securities Ltd
16-05-11 BUY 72.40 44.50 12.00 80.90 50.00 12.00
Eden Group
07-04-11 TPR
W H Ireland Ltd
02-02-11 BUY 75.20 44.50 13.20 85.50 51.10 14.50
Fyshe Horton Finney Ltd
25-11-10 BUY
2011 2012
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p
)
Consensus 71.39 44.70 13.11 80.00 50.34 14.19
1 Month Change -1.37 -0.16 -0.12 -0.81 0.24 -0.21
3 Month Change -1.08 0.42 -0.13 0.35 0.88 0.19
GROWTH
2010 (A) 2011 (E) 2012 (E)
Norm. EPS % 9.62% 12.62%
DPS % 227.80% 8.23%
INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)
EBITDA 92.10m 99.95m 107.66m
EBIT 72.10m m m
Dividend Yield 0.75% 2.46% 2.66%
Dividend Cover 10.20x 3.41x 3.55x
PER 13.09x 11.94x 10.61x
PEG f 1.24f 0.84f
Net Asset Value PS 102.89p 302.10p 338.80p
skinny
- 09 Jun 2011 15:01
- 236 of 346
Blackrock & Deutsche Bank both reduced holdings.
skinny
- 17 Jun 2011 07:09
- 237 of 346
RNS Number : 6112I
Cape plc
17 June 2011
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
CAPE PLC
ESTABLISHMENT OF NEW UK LISTED HOLDING COMPANY
Scheme of Arrangement becomes effective
Further to the announcement by Cape plc ("Old Cape") on 16 June 2011, Old Cape is pleased to announce that the Court Order sanctioning the scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme") and associated reduction of the capital of Old Cape (the "Reduction of Capital") was delivered to the Registrar of Companies in England and Wales this morning.
The Scheme and the Reduction of Capital therefore became effective earlier today, as a result of which the total issued ordinary share capital of New Cape is 117,989,740 ordinary shares of 25p each ("New Cape Shares") and 1 scheme share of GBP1 (issued to The Law Debenture Trust Corporation p.l.c.).
The remainder of the expected timetable for the Scheme is as follows:-
Friday, 17 June 2011 Credit of New Cape Shares in uncertificated form to CREST accounts
2.30 p.m. on Thursday, 30 June 2011 Jersey Court hearing to confirm New Cape Reduction of Capital
Friday, 1 July 2011 New Cape Reduction of Capital becomes effective
By Friday, 1 July 2011 Despatch of share certificates in respect of New Cape Shares in certificated form
Unless otherwise stated, all references to times in this announcement are to London time. The times and dates given are based on the Directors' current expectations and may be subject to change.
Unless the context otherwise requires, terms defined in the Scheme Circular dated 9 May 2011 have the same meaning in this announcement.
Cape plc
17 June 2011
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
CAPE PLC
ESTABLISHMENT OF NEW UK LISTED HOLDING COMPANY
Scheme of Arrangement becomes effective
Further to the announcement by Cape plc ("Old Cape") on 16 June 2011, Old Cape is pleased to announce that the Court Order sanctioning the scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme") and associated reduction of the capital of Old Cape (the "Reduction of Capital") was delivered to the Registrar of Companies in England and Wales this morning.
The Scheme and the Reduction of Capital therefore became effective earlier today, as a result of which the total issued ordinary share capital of New Cape is 117,989,740 ordinary shares of 25p each ("New Cape Shares") and 1 scheme share of GBP1 (issued to The Law Debenture Trust Corporation p.l.c.).
The remainder of the expected timetable for the Scheme is as follows:-
Friday, 17 June 2011 Credit of New Cape Shares in uncertificated form to CREST accounts
2.30 p.m. on Thursday, 30 June 2011 Jersey Court hearing to confirm New Cape Reduction of Capital
Friday, 1 July 2011 New Cape Reduction of Capital becomes effective
By Friday, 1 July 2011 Despatch of share certificates in respect of New Cape Shares in certificated form
Unless otherwise stated, all references to times in this announcement are to London time. The times and dates given are based on the Directors' current expectations and may be subject to change.
Unless the context otherwise requires, terms defined in the Scheme Circular dated 9 May 2011 have the same meaning in this announcement.
skinny
- 17 Jun 2011 07:11
- 238 of 346
RNS Number : 5967I
Cape plc
17 June 2011
Embargoed: 0705hrs 17 June 2011
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
This announcement is not a prospectus. This announcement does not constitute or form part of, and should not be construed as, any offer or invitation to sell, issue, purchase or subscribe for, or any solicitation of any offer to sell, issue, purchase or subscribe for, any shares in the Company or securities in any other entity nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision in relation thereto. This announcement does not constitute a recommendation regarding any securities.
Any investment decision must be made exclusively on the basis of the final prospectus published by Cape and any supplement thereto (the "Prospectus"). Particular regard should be given to the "Risk Factors" section of the Prospectus before a decision to invest is made. A copy of the Prospectus has been submitted to the National Storage Mechanism and will be available for inspection at: www.Hemscott.com/nsm.do
Cape plc
("Cape" or the "Group")
First Day of Dealings on Main Market of the London Stock Exchange
Cape plc, the international provider of essential, non-mechanical services to the energy and mineral resources sectors, is pleased to announce that its shares will today be admitted to trading on the main market of the London Stock Exchange ("Admission") in the Oil Equipment & Services sector. Trading in Cape's shares commences at 8.00a.m. today.
Cape's Admission marks one of the largest transfers of a company from AIM to the main market in recent years and the return of its shares after eight transformational years on AIM. During such time Cape has developed a market leading footprint across the globe, providing bundled services to the energy markets of the Far East/Pacific Rim, Gulf/Middle East, CIS/North African and the UK. The Group has grown adjusted diluted earnings per share by over 500% since its shares moved off the main market in January 2003 and returns as a dividend paying stock once again, with net debt of just 0.6 times EBITDA.
Martin May, Chief Executive, commented,
"I am very proud to return Cape to the main market, having delivered another set of record results the business is in great shape. Looking forward into 2012 we are poised for another period of sustained growth as we enter a new up-cycle for our construction support services, particularly downstream Gulf/Middle East and gas/LNG in the Far East/Pacific Rim. This situation would not have been possible without the rejuvenation of the Cape business, through the efforts of the great team we have at Cape, our 18,000 people in 29 countries, who have earned a reputation for outstanding safety and on time delivery."
Cape plc
17 June 2011
Embargoed: 0705hrs 17 June 2011
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN.
This announcement is not a prospectus. This announcement does not constitute or form part of, and should not be construed as, any offer or invitation to sell, issue, purchase or subscribe for, or any solicitation of any offer to sell, issue, purchase or subscribe for, any shares in the Company or securities in any other entity nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or investment decision in relation thereto. This announcement does not constitute a recommendation regarding any securities.
Any investment decision must be made exclusively on the basis of the final prospectus published by Cape and any supplement thereto (the "Prospectus"). Particular regard should be given to the "Risk Factors" section of the Prospectus before a decision to invest is made. A copy of the Prospectus has been submitted to the National Storage Mechanism and will be available for inspection at: www.Hemscott.com/nsm.do
Cape plc
("Cape" or the "Group")
First Day of Dealings on Main Market of the London Stock Exchange
Cape plc, the international provider of essential, non-mechanical services to the energy and mineral resources sectors, is pleased to announce that its shares will today be admitted to trading on the main market of the London Stock Exchange ("Admission") in the Oil Equipment & Services sector. Trading in Cape's shares commences at 8.00a.m. today.
Cape's Admission marks one of the largest transfers of a company from AIM to the main market in recent years and the return of its shares after eight transformational years on AIM. During such time Cape has developed a market leading footprint across the globe, providing bundled services to the energy markets of the Far East/Pacific Rim, Gulf/Middle East, CIS/North African and the UK. The Group has grown adjusted diluted earnings per share by over 500% since its shares moved off the main market in January 2003 and returns as a dividend paying stock once again, with net debt of just 0.6 times EBITDA.
Martin May, Chief Executive, commented,
"I am very proud to return Cape to the main market, having delivered another set of record results the business is in great shape. Looking forward into 2012 we are poised for another period of sustained growth as we enter a new up-cycle for our construction support services, particularly downstream Gulf/Middle East and gas/LNG in the Far East/Pacific Rim. This situation would not have been possible without the rejuvenation of the Cape business, through the efforts of the great team we have at Cape, our 18,000 people in 29 countries, who have earned a reputation for outstanding safety and on time delivery."
goldfinger
- 07 Jul 2011 08:58
- 239 of 346
BRIEF-RESEARCH ALERT-Evolution Securities raises Cape price target
07 Jul 2011 - 08:08
July 7 (Reuters) - Cape PLC :
* Evolution Securities raises Cape PLC price target to 600P from 550P ENDS
A rather miserly upgrade but an upgrade all the same. Im expecting more broker upgrades in the next 2 days.
07 Jul 2011 - 08:08
July 7 (Reuters) - Cape PLC :
* Evolution Securities raises Cape PLC price target to 600P from 550P ENDS
A rather miserly upgrade but an upgrade all the same. Im expecting more broker upgrades in the next 2 days.
goldfinger
- 07 Jul 2011 09:01
- 240 of 346
Oil and Gas Corporate News
Thursday, Jul 07 2011 by Fox Davies Capital
http://bit.ly/qRQc9t
Cape (LON:CIU) plc (HOLD) (CIU, 571.50p, ▲ 0.26%) issued a trading update for the first six months of 2011. In line with previous guidance, the company anticipates that revenues in the first half will be broadly similar to last year, with growth expected to recommence throughout the second half and beyond, as demand for construction support services increases. As anticipated, on a regional basis in the first half, Far East/Pacific Rim business continues to perform well and the company expect revenues to grow by around 18%. Revenues in the CIS/Mediterranean & North Africa business are expected will grow by around 30%. Growth in these two regions is expected to offset lower activity levels in the Gulf/Middle East region where revenues are expected to reduce by c18%. Regional operating margins in the first half are expected to be at similar levels to last year on an underlying basis other than in the Far East/Pacific Rim region, where they are expected to continue to strengthen.
This is an encouraging update from Cape, who has been one of the best price performers in the sector this year. The maintenance of margins and offsetting of revenue reductions in the Gulf/Middle East by growth in other areas is very encouraging, and the company remains undervalued relative to the sector. However, we await further confirmation of the deliverance of strategic objectives and strategies before becoming more positive
Thursday, Jul 07 2011 by Fox Davies Capital
http://bit.ly/qRQc9t
Cape (LON:CIU) plc (HOLD) (CIU, 571.50p, ▲ 0.26%) issued a trading update for the first six months of 2011. In line with previous guidance, the company anticipates that revenues in the first half will be broadly similar to last year, with growth expected to recommence throughout the second half and beyond, as demand for construction support services increases. As anticipated, on a regional basis in the first half, Far East/Pacific Rim business continues to perform well and the company expect revenues to grow by around 18%. Revenues in the CIS/Mediterranean & North Africa business are expected will grow by around 30%. Growth in these two regions is expected to offset lower activity levels in the Gulf/Middle East region where revenues are expected to reduce by c18%. Regional operating margins in the first half are expected to be at similar levels to last year on an underlying basis other than in the Far East/Pacific Rim region, where they are expected to continue to strengthen.
This is an encouraging update from Cape, who has been one of the best price performers in the sector this year. The maintenance of margins and offsetting of revenue reductions in the Gulf/Middle East by growth in other areas is very encouraging, and the company remains undervalued relative to the sector. However, we await further confirmation of the deliverance of strategic objectives and strategies before becoming more positive
goldfinger
- 07 Jul 2011 09:22
- 241 of 346
Cape looks forward with confidence
7th July 2011
By Rachel Covill - Business Correspondent
INDUSTRIAL services group Cape said today it expects growth in the second half of the year to recommence as demand for construction support services increases.
This morning, the company said it anticipates that revenues for the half year to June will be similar to last year and said its Far East/Pacific Rim business continued to perform well, expecting revenues to grow by 18%.
Revenues in the CIS/Mediterranean and North Africa business will grow 30%, Cape predicted.
It said that the growth in these two regions is expected to offset lower activity levels in the Gulf/Middle East region where revenues are expected to dip by around 18%.
Around 3.5m of non-recurring corporate charges were incurred in the period, comprising 2m for its move from AIM to the London Stock Exchanges main market and the corporate restructuring involving a new Jersey-incorporated group holding company.
A 1.5m charge representing the unamortised facility fees from the early cancellation of its 2007 syndicated bank facility was also incurred.
Cape, which has a number of operations in Yorkshire, said: The group is in a strong financial position. We expect net debt at the end of June to increase to c. 76m reflecting the usual seasonal working capital outflows, higher levels of capex as we invest in growth, and the reintroduced dividend payment.
Our business model inherently provides us with high levels of revenue visibility and the board confidently expects a return to revenue growth in-line with our double-digit target range in the second half.
http://www.thebusinessdesk.com/yorkshire/news/189949-cape-looks-forward-with-confidence.html?utm_source=newsletter&utm_medium=email&utm_campaign=Yorkshire_7th_Jul_2011_-_Daily_E-mail
7th July 2011
By Rachel Covill - Business Correspondent
INDUSTRIAL services group Cape said today it expects growth in the second half of the year to recommence as demand for construction support services increases.
This morning, the company said it anticipates that revenues for the half year to June will be similar to last year and said its Far East/Pacific Rim business continued to perform well, expecting revenues to grow by 18%.
Revenues in the CIS/Mediterranean and North Africa business will grow 30%, Cape predicted.
It said that the growth in these two regions is expected to offset lower activity levels in the Gulf/Middle East region where revenues are expected to dip by around 18%.
Around 3.5m of non-recurring corporate charges were incurred in the period, comprising 2m for its move from AIM to the London Stock Exchanges main market and the corporate restructuring involving a new Jersey-incorporated group holding company.
A 1.5m charge representing the unamortised facility fees from the early cancellation of its 2007 syndicated bank facility was also incurred.
Cape, which has a number of operations in Yorkshire, said: The group is in a strong financial position. We expect net debt at the end of June to increase to c. 76m reflecting the usual seasonal working capital outflows, higher levels of capex as we invest in growth, and the reintroduced dividend payment.
Our business model inherently provides us with high levels of revenue visibility and the board confidently expects a return to revenue growth in-line with our double-digit target range in the second half.
http://www.thebusinessdesk.com/yorkshire/news/189949-cape-looks-forward-with-confidence.html?utm_source=newsletter&utm_medium=email&utm_campaign=Yorkshire_7th_Jul_2011_-_Daily_E-mail
skinny
- 08 Jul 2011 09:31
- 242 of 346
And business as usual.
goldfinger
- 08 Jul 2011 09:34
- 243 of 346
Forward P/E of just over 11 to 2012 is way too cheap compared to peers. CIU is very cheap imo.
Cape PLC
FORECASTS 2011 2012
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Altium Securities
07-07-11 BUY 73.70 45.70 13.20 83.90 52.60 14.50
Numis Securities Ltd
07-07-11 BUY 68.80 44.50 12.00 84.20 53.00 12.00
Arden Partners
06-07-11 BUY 74.65 44.90 13.20 83.30 50.40 14.80
Panmure Gordon
06-07-11 HOLD 72.70 45.00 13.80 76.60 47.60 15.10
Shore Capital
01-07-11 BUY 70.60 43.60 13.50 79.00 49.00 15.00
Investec Securities
01-07-11 BUY 65.54 43.77 13.13 75.52 50.30 14.08
Evolution Securities Ltd
16-05-11 ADD 71.00 45.53 81.00 52.19
Eden Group
07-04-11 TPR
W H Ireland Ltd
02-02-11 BUY 75.20 44.50 13.20 85.50 51.10 14.50
2011 2012
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 70.71 44.68 13.06 80.58 50.86 14.10
1 Month Change -0.70 -0.02 -0.05 0.60 0.54 -0.11
3 Month Change -2.17 -0.28 -0.10 -0.37 0.65 -0.16
GROWTH
2010 (A) 2011 (E) 2012 (E)
Norm. EPS % 9.55% 13.85%
DPS % 226.62% 7.88%
INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)
EBITDA 92.10m 98.91m 108.74m
EBIT 72.10m 76.00m 86.00m
Dividend Yield 0.70% 2.27% 2.45%
Dividend Cover 10.20x 3.42x 3.61x
PER 14.09x 12.86x 11.30x
PEG f 1.35f 0.82f
Net Asset Value PS 102.89p 302.10p 338.80p
Cape PLC
FORECASTS 2011 2012
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Altium Securities
07-07-11 BUY 73.70 45.70 13.20 83.90 52.60 14.50
Numis Securities Ltd
07-07-11 BUY 68.80 44.50 12.00 84.20 53.00 12.00
Arden Partners
06-07-11 BUY 74.65 44.90 13.20 83.30 50.40 14.80
Panmure Gordon
06-07-11 HOLD 72.70 45.00 13.80 76.60 47.60 15.10
Shore Capital
01-07-11 BUY 70.60 43.60 13.50 79.00 49.00 15.00
Investec Securities
01-07-11 BUY 65.54 43.77 13.13 75.52 50.30 14.08
Evolution Securities Ltd
16-05-11 ADD 71.00 45.53 81.00 52.19
Eden Group
07-04-11 TPR
W H Ireland Ltd
02-02-11 BUY 75.20 44.50 13.20 85.50 51.10 14.50
2011 2012
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 70.71 44.68 13.06 80.58 50.86 14.10
1 Month Change -0.70 -0.02 -0.05 0.60 0.54 -0.11
3 Month Change -2.17 -0.28 -0.10 -0.37 0.65 -0.16
GROWTH
2010 (A) 2011 (E) 2012 (E)
Norm. EPS % 9.55% 13.85%
DPS % 226.62% 7.88%
INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)
EBITDA 92.10m 98.91m 108.74m
EBIT 72.10m 76.00m 86.00m
Dividend Yield 0.70% 2.27% 2.45%
Dividend Cover 10.20x 3.42x 3.61x
PER 14.09x 12.86x 11.30x
PEG f 1.35f 0.82f
Net Asset Value PS 102.89p 302.10p 338.80p
goldfinger
- 20 Jul 2011 09:16
- 244 of 346
Excelent looking chart...
skinny
- 10 Aug 2011 08:43
- 245 of 346
In auction +10.1% :-)
Dil
- 10 Aug 2011 09:15
- 246 of 346
Got some yesterday for my bargain bucket portfolio.
skinny
- 22 Aug 2011 12:05
- 247 of 346
Good rise today - no direct interests in Libia, although they have interests in North Africa.
skinny
- 31 Aug 2011 07:13
- 248 of 346
Half Yearly Report.
Highlights
-- Solid operational performance with continued strong execution and margin capture
-- Adjusted Profit Before Tax of GBP34.0m (2010: GBP35.5m)
-- Adjusted diluted earnings per share of 20.9p (2010: 21.0p)
-- Strong performances in Far East/Pacific Rim and CIS/Mediterranean and North Africa regions offsetting anticipated lower activity levels in Gulf/Middle East region
-- Admission to the London Stock Exchange Main Market in June 2011 with anticipated entry to the FTSE 250 index in September
-- Interim dividend of 4.5p per share (2010: 4.0p)
-- Firm order book at 30 June consistent with prior year levels with over 91% of consensus Full Year 2011 revenues secured (2010: 90%)
-- Investment underway to facilitate growth in H2 and beyond
-- As expected, momentum is building on a number of key areas/projects indicating we are entering a sustained period of demand growth for Cape's services
Commenting on the results, Tim Eggar, Chairman of Cape said:
"Cape has an unique combination of capabilities and competences and an outstanding safety performance. We are therefore ideally positioned to benefit from the upturn in demand for our construction support services which is driven by the forecast increased capital spending in our sector and the global demand for energy. We are on track to deliver full year results in line with the Board's expectations."
Commenting on the results, Martin K May, Chief Executive of Cape said:
"Once again Cape delivered a solid first half performance based on continued superior execution and margin capture. In overall terms revenue was in line with our plan and with our high levels of revenue visibility, we confidently expect a return to revenue growth in-line with our double digit target range in the second half.
With Cape's late cycle positioning we enjoy excellent visibility of contract pipelines and we see momentum building. The increases in industry capex with a raft of major project starts and approvals in our key geographies give me confidence that Cape is very well positioned to achieve our organic growth targets. We've also completed two bolt-on acquisitions and entered three new territories so far this year and we see an increasing list of opportunities in our key markets."
Highlights
-- Solid operational performance with continued strong execution and margin capture
-- Adjusted Profit Before Tax of GBP34.0m (2010: GBP35.5m)
-- Adjusted diluted earnings per share of 20.9p (2010: 21.0p)
-- Strong performances in Far East/Pacific Rim and CIS/Mediterranean and North Africa regions offsetting anticipated lower activity levels in Gulf/Middle East region
-- Admission to the London Stock Exchange Main Market in June 2011 with anticipated entry to the FTSE 250 index in September
-- Interim dividend of 4.5p per share (2010: 4.0p)
-- Firm order book at 30 June consistent with prior year levels with over 91% of consensus Full Year 2011 revenues secured (2010: 90%)
-- Investment underway to facilitate growth in H2 and beyond
-- As expected, momentum is building on a number of key areas/projects indicating we are entering a sustained period of demand growth for Cape's services
Commenting on the results, Tim Eggar, Chairman of Cape said:
"Cape has an unique combination of capabilities and competences and an outstanding safety performance. We are therefore ideally positioned to benefit from the upturn in demand for our construction support services which is driven by the forecast increased capital spending in our sector and the global demand for energy. We are on track to deliver full year results in line with the Board's expectations."
Commenting on the results, Martin K May, Chief Executive of Cape said:
"Once again Cape delivered a solid first half performance based on continued superior execution and margin capture. In overall terms revenue was in line with our plan and with our high levels of revenue visibility, we confidently expect a return to revenue growth in-line with our double digit target range in the second half.
With Cape's late cycle positioning we enjoy excellent visibility of contract pipelines and we see momentum building. The increases in industry capex with a raft of major project starts and approvals in our key geographies give me confidence that Cape is very well positioned to achieve our organic growth targets. We've also completed two bolt-on acquisitions and entered three new territories so far this year and we see an increasing list of opportunities in our key markets."
skinny
- 09 Nov 2011 07:09
- 249 of 346
skinny
- 09 Nov 2011 09:14
- 250 of 346
Just out of auction -31.2%.
hlyeo98 - 09 Nov 2011 14:25 - 251 of 346
What's happening here???
halifax - 09 Nov 2011 14:28 - 252 of 346
hy IMS suggests storm clouds on the horizon
skinny
- 10 Nov 2011 13:45
- 253 of 346
10 November 2011
Cape plc
("Cape" or the "Company")
Director/ PDMR Shareholdings
Cape plc, the international provider of essential, non-mechanical support services to the energy and mineral resources sectors, was informed on 9 and 10 November 2011 of the following purchase by Directors and their connected parties of the Company's ordinary shares of 25 pence ("Ordinary Shares"):
Tim Eggar, Non-Executive Chairman, purchased 2,500 Ordinary Shares at a price of 334 pence per share on 9 November 2011, following which he has a beneficial interest in 16,589 Ordinary Shares representing 0.014 per cent of the issued share capital and total voting rights of the Company.
Martin K May, Chief Executive Officer, purchased 60,000 Ordinary Shares at a price of 341.78 pence per share on 9 November 2011, following which he has a beneficial interest in 690,000 Ordinary Shares representing 0.582 per cent of the issued share capital and total voting rights of the Company.
Sallyann Merton, the wife of Michael Merton, Non-Executive Director, purchased 2,000 Ordinary Shares at a price of 327.32 pence per share on 9 November 2011. Following this transaction, Michael Merton and his connected parties have a beneficial interest of 2,000 Ordinary Shares representing 0.002 per cent of the issued share capital and total voting rights of the Company.
Cape plc
("Cape" or the "Company")
Director/ PDMR Shareholdings
Cape plc, the international provider of essential, non-mechanical support services to the energy and mineral resources sectors, was informed on 9 and 10 November 2011 of the following purchase by Directors and their connected parties of the Company's ordinary shares of 25 pence ("Ordinary Shares"):
Tim Eggar, Non-Executive Chairman, purchased 2,500 Ordinary Shares at a price of 334 pence per share on 9 November 2011, following which he has a beneficial interest in 16,589 Ordinary Shares representing 0.014 per cent of the issued share capital and total voting rights of the Company.
Martin K May, Chief Executive Officer, purchased 60,000 Ordinary Shares at a price of 341.78 pence per share on 9 November 2011, following which he has a beneficial interest in 690,000 Ordinary Shares representing 0.582 per cent of the issued share capital and total voting rights of the Company.
Sallyann Merton, the wife of Michael Merton, Non-Executive Director, purchased 2,000 Ordinary Shares at a price of 327.32 pence per share on 9 November 2011. Following this transaction, Michael Merton and his connected parties have a beneficial interest of 2,000 Ordinary Shares representing 0.002 per cent of the issued share capital and total voting rights of the Company.
HARRYCAT
- 10 Jan 2012 08:46
- 254 of 346
Broker target is 590p. Any more thoughts on the 'storm clouds' as mentioned above. Can't see any relevant RNS's.
[Date: Monday 14 Nov 2011
LONDON (ShareCast) - Evolution Securities has reiterated its add recommendation on industrials services provider Cape despite last week’s trading update which sent shares plummeting.
The stock dove 28% on Wednesday after the firm revealed a fixed-price contract loss and depot closure with a combined charge of £3.6m.
Evolution has revised its 2012 earnings per share estimates from 54.5p to 45p, but while this increases the price-to-earnings ratio, the broker reassures by saying that this still “remains one of the cheapest (stocks) in the sector”.
“However, the shares may not perform until the market feels more confident that last week’s statement was a one-off.”
A 550p target is maintained.]
[Date: Monday 14 Nov 2011
LONDON (ShareCast) - Evolution Securities has reiterated its add recommendation on industrials services provider Cape despite last week’s trading update which sent shares plummeting.
The stock dove 28% on Wednesday after the firm revealed a fixed-price contract loss and depot closure with a combined charge of £3.6m.
Evolution has revised its 2012 earnings per share estimates from 54.5p to 45p, but while this increases the price-to-earnings ratio, the broker reassures by saying that this still “remains one of the cheapest (stocks) in the sector”.
“However, the shares may not perform until the market feels more confident that last week’s statement was a one-off.”
A 550p target is maintained.]
skinny
- 10 Jan 2012 15:00
- 255 of 346
Looking good Harry.
;MA(50)&IND=RSI(14);VOLMA(60)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=&X=014&Y=231)
skinny
- 10 Jan 2012 15:14
- 256 of 346
In auction.
HARRYCAT
- 10 Jan 2012 16:25
- 257 of 346
Is there any relevance in the vertical (nov) line?
skinny
- 10 Jan 2012 16:27
- 258 of 346
None whatsoever - I wanted to put a horizontal line at the high - it comes as a pair !
HARRYCAT
- 10 Jan 2012 16:29
- 259 of 346
Copy that.
skinny
- 10 Jan 2012 16:32
- 260 of 346
I've changed the X coordinate to 1.
skinny
- 12 Jan 2012 07:22
- 261 of 346
Year End Trading Update.
Year End Trading Update
&
Notice of Results
Cape plc, the international provider of essential, non-mechanical support services to the energy and mineral resources sectors, is pleased to provide the following scheduled trading update following the financial year end on 31 December 2011.
Since the Group's Interim Management Statement on 9 November 2011 ("IMS"), Cape has performed well and Group revenue and underlying profit before tax* for the year are anticipated to be in line with the Board's expectations.
As expected, the strong revenue growth in Q3 continued in Q4 driven by higher levels of activity in three of Cape's four regions. In the Far East/Pacific Rim region, Cape saw increased activity from both onshore project work, in particular Woodside's Pluto LNG project in Australia and the Exxon SPT Olefins project in Singapore, as well as offshore work in Australia with mobilisation at both Kipper Tuna Turrum (off Victoria) and North Rankin (North West Shelf). The UK business experienced higher levels of activity across the power belt with several increased outage scopes and finally, in North Africa we began mobilisation of significant manpower on the Sonatrach GL3-Z LNG project in Algeria. In the Gulf/Middle East region, activity levels were in line with our expectations following delayed release of works.
The Group has also executed on its plans, as referred to in the IMS, to take one-off, non-recurring charges related to a UK contract, now completed, and the exit of commercial construction scaffold hire and sales activities in Queensland, Australia.
Looking ahead, the increase in activity levels seen during Q4 2011 with the commencement of works noted above, gives the Board confidence that 2012 will be a year of significant growth in activity. Over half of Cape's revenues continue to be driven by essential maintenance requirements and regulatory commitments. With a number of major projects in our chosen sectors moving forward we remain confident of delivering on our plans for 2012.
Results for the financial year ended 31 December 2011 will be announced on 6 March 2012.
*Before intangible amortisation, IDC related charges and income, and non-recurring items.
Year End Trading Update
&
Notice of Results
Cape plc, the international provider of essential, non-mechanical support services to the energy and mineral resources sectors, is pleased to provide the following scheduled trading update following the financial year end on 31 December 2011.
Since the Group's Interim Management Statement on 9 November 2011 ("IMS"), Cape has performed well and Group revenue and underlying profit before tax* for the year are anticipated to be in line with the Board's expectations.
As expected, the strong revenue growth in Q3 continued in Q4 driven by higher levels of activity in three of Cape's four regions. In the Far East/Pacific Rim region, Cape saw increased activity from both onshore project work, in particular Woodside's Pluto LNG project in Australia and the Exxon SPT Olefins project in Singapore, as well as offshore work in Australia with mobilisation at both Kipper Tuna Turrum (off Victoria) and North Rankin (North West Shelf). The UK business experienced higher levels of activity across the power belt with several increased outage scopes and finally, in North Africa we began mobilisation of significant manpower on the Sonatrach GL3-Z LNG project in Algeria. In the Gulf/Middle East region, activity levels were in line with our expectations following delayed release of works.
The Group has also executed on its plans, as referred to in the IMS, to take one-off, non-recurring charges related to a UK contract, now completed, and the exit of commercial construction scaffold hire and sales activities in Queensland, Australia.
Looking ahead, the increase in activity levels seen during Q4 2011 with the commencement of works noted above, gives the Board confidence that 2012 will be a year of significant growth in activity. Over half of Cape's revenues continue to be driven by essential maintenance requirements and regulatory commitments. With a number of major projects in our chosen sectors moving forward we remain confident of delivering on our plans for 2012.
Results for the financial year ended 31 December 2011 will be announced on 6 March 2012.
*Before intangible amortisation, IDC related charges and income, and non-recurring items.
goldfinger
- 26 Jan 2012 14:12
- 262 of 346
CAPE CIU Chart Weekly pointing to a bullish lift off. Fundys stable after last financial statement........
As per above chart pointing to a bullish future.
As per above chart pointing to a bullish future.
goldfinger
- 26 Jan 2012 15:33
- 263 of 346
Evolution have a target of 550p while this lot have.....
09-Jan-12 Northland Capital Partners Buy 335.60p 590.00p -
590p SP target.
09-Jan-12 Northland Capital Partners Buy 335.60p 590.00p -
590p SP target.
goldfinger
- 01 Feb 2012 15:39
- 264 of 346
Interesting to see Brokers target SPs
are substantially higher than the current
SP................ Including Northland
Capital who have a BUY Note out today.
Date Broker name New Price Old price target New price target Broker change
01-Feb-12 Northland Capital Partners Buy 0.000p 590.00p
13-Jan-12 Panmure Gordon Hold 376.00p 350.00p 410.00p
14-Nov-11 Evolution Securities Add 354.90p 550.00p
are substantially higher than the current
SP................ Including Northland
Capital who have a BUY Note out today.
Date Broker name New Price Old price target New price target Broker change
01-Feb-12 Northland Capital Partners Buy 0.000p 590.00p
13-Jan-12 Panmure Gordon Hold 376.00p 350.00p 410.00p
14-Nov-11 Evolution Securities Add 354.90p 550.00p
skinny
- 01 Feb 2012 15:46
- 265 of 346
Still that gap to fill.
goldfinger
- 02 Feb 2012 08:56
- 266 of 346
450p here we come sharpish.
goldfinger
- 02 Feb 2012 09:03
- 267 of 346
GAP up to 450p to be filled.......
skinny
- 02 Feb 2012 09:05
- 268 of 346
See post 265 :-)
goldfinger
- 02 Feb 2012 09:47
- 269 of 346
ooooops, soz.
getting carried away.
I swear sometimes I dont even know whiich board im on let alone which thread. Lol.
HYPING............ not ramping. Subtle difference.
getting carried away.
I swear sometimes I dont even know whiich board im on let alone which thread. Lol.
HYPING............ not ramping. Subtle difference.
goldfinger
- 21 Feb 2012 09:30
- 270 of 346
CAPE CIU
Gone long again.
results out on 6th March.
Collins Stewart forecast eps of 47.4p
for 2012 and 55.3p next year.
FAR TOO CHEAP.
Gone long again.
results out on 6th March.
Collins Stewart forecast eps of 47.4p
for 2012 and 55.3p next year.
FAR TOO CHEAP.
goldfinger
- 21 Feb 2012 09:49
- 271 of 346
Cape PLC CIU
Brokers all pretty much behind a buy
on cape CIU. P/E of just 9.4 2012.
Deserves a re- rating.
FORECASTS 2011 2012
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Panmure Gordon
20-02-12 HOLD 66.60 40.70 13.40 78.30 48.10 14.80
Arden Partners
17-02-12 NEUT 67.13 38.70 13.20 69.18 41.16 13.99
Northland Capital Partners Ltd
08-02-12 BUY 66.20 41.10 13.10 72.20 45.00 14.00
Shore Capital
03-02-12 BUY 68.00 42.00 13.50 78.50 49.10 15.00
Numis Securities Ltd
02-02-12 BUY 67.00 41.30 72.60 44.80
Broker Name Withheld 3
12-01-12 BUY 67.20 43.21 13.50 74.30 47.43 15.00
Investec Securities
07-12-11 BUY 64.42 39.98 11.99 73.13 45.60 12.77
Evolution Securities Ltd
14-11-11 ADD 64.10 40.90 13.50 69.30 44.80 14.50
Altium Securities
09-11-11 BUY 68.00 42.00 13.50 77.10 48.10 14.90
2011 2012
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Consensus 66.62 41.08 13.22 74.02 46.01 14.39
1 Month Change 0.05 0.04 0.14 0.28 0.16 0.16
3 Month Change -0.64 -0.54 0.05 0.06 -0.15 0.12
GROWTH
2010 (A) 2011 (E) 2012 (E)
Norm. EPS % 0.72% 12.01%
DPS % 230.58% 8.81%
INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)
EBITDA £92.10m £94.15m £101.17m
EBIT £72.10m £74.56m £78.82m
Dividend Yield 0.92% 3.03% 3.30%
Dividend Cover 10.20x 3.11x 3.20x
PER 10.71x 10.63x 9.49x
PEG f 14.78f 0.79f
Net Asset Value PS 102.89p p p
Hemscot Premium.
Brokers all pretty much behind a buy
on cape CIU. P/E of just 9.4 2012.
Deserves a re- rating.
FORECASTS 2011 2012
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Panmure Gordon
20-02-12 HOLD 66.60 40.70 13.40 78.30 48.10 14.80
Arden Partners
17-02-12 NEUT 67.13 38.70 13.20 69.18 41.16 13.99
Northland Capital Partners Ltd
08-02-12 BUY 66.20 41.10 13.10 72.20 45.00 14.00
Shore Capital
03-02-12 BUY 68.00 42.00 13.50 78.50 49.10 15.00
Numis Securities Ltd
02-02-12 BUY 67.00 41.30 72.60 44.80
Broker Name Withheld 3
12-01-12 BUY 67.20 43.21 13.50 74.30 47.43 15.00
Investec Securities
07-12-11 BUY 64.42 39.98 11.99 73.13 45.60 12.77
Evolution Securities Ltd
14-11-11 ADD 64.10 40.90 13.50 69.30 44.80 14.50
Altium Securities
09-11-11 BUY 68.00 42.00 13.50 77.10 48.10 14.90
2011 2012
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Consensus 66.62 41.08 13.22 74.02 46.01 14.39
1 Month Change 0.05 0.04 0.14 0.28 0.16 0.16
3 Month Change -0.64 -0.54 0.05 0.06 -0.15 0.12
GROWTH
2010 (A) 2011 (E) 2012 (E)
Norm. EPS % 0.72% 12.01%
DPS % 230.58% 8.81%
INVESTMENT RATIOS
2010 (A) 2011 (E) 2012 (E)
EBITDA £92.10m £94.15m £101.17m
EBIT £72.10m £74.56m £78.82m
Dividend Yield 0.92% 3.03% 3.30%
Dividend Cover 10.20x 3.11x 3.20x
PER 10.71x 10.63x 9.49x
PEG f 14.78f 0.79f
Net Asset Value PS 102.89p p p
Hemscot Premium.
goldfinger
- 28 Feb 2012 15:23
- 272 of 346
Broker flash........
just out
WH Ireland Securities initiates buy on Cape, target price 515p.
just out
WH Ireland Securities initiates buy on Cape, target price 515p.
goldfinger
- 01 Mar 2012 16:23
- 273 of 346
Brokers with Buys on CAPE CIU giving SP targets:
Present SP as I post 440p
Date Broker name New Price Old price target New price target
28-Feb-12 WH Ireland Buy 440.00p - 515.00p....... New Coverage
01-Feb-12 Northland Capital Partners Buy 401.00p 590.00p
14-Nov-11 Evolution Securities Add 354.90p 550.00p
08-Nov-11 Northland Capital Partners Buy 465.00p - 590.00p
01-Nov-11 Arden Partners Buy 463.80p 620.00p
Compiled from Digital Look
Present SP as I post 440p
Date Broker name New Price Old price target New price target
28-Feb-12 WH Ireland Buy 440.00p - 515.00p....... New Coverage
01-Feb-12 Northland Capital Partners Buy 401.00p 590.00p
14-Nov-11 Evolution Securities Add 354.90p 550.00p
08-Nov-11 Northland Capital Partners Buy 465.00p - 590.00p
01-Nov-11 Arden Partners Buy 463.80p 620.00p
Compiled from Digital Look
goldfinger
- 02 Mar 2012 08:09
- 274 of 346
CIU CAPE
That new Broker note in more detail..
Broker Notes
WH Ireland initiated coverage of Cape (CIU) with a "buy" rating and target price of 515p. The broker believes the energy services company is well positioned to take advantage of growing world energy demand and added that the firm's key growth driver will be the Australian liquefied Natural Gas sector. The broker's forecasts put the shares on a prospective multiple of 9.5 times in 2012, falling to 8.1 times in 2013, which it noted is well below the peer group average. The shares edge up by 0.2p to 440p.
http://uk-analyst.com/shop/page-advice/action-advertorial.show/id-130016739
That new Broker note in more detail..
Broker Notes
WH Ireland initiated coverage of Cape (CIU) with a "buy" rating and target price of 515p. The broker believes the energy services company is well positioned to take advantage of growing world energy demand and added that the firm's key growth driver will be the Australian liquefied Natural Gas sector. The broker's forecasts put the shares on a prospective multiple of 9.5 times in 2012, falling to 8.1 times in 2013, which it noted is well below the peer group average. The shares edge up by 0.2p to 440p.
http://uk-analyst.com/shop/page-advice/action-advertorial.show/id-130016739
skinny
- 02 Mar 2012 13:37
- 275 of 346
Collins Stewart reiterates its Buy TP raised from 446.00 to 507.00p
goldfinger
- 02 Mar 2012 16:50
- 276 of 346
CIU CAPE
On the chart you can see on the
lower indicators of RSI and momentum
a bullish double bottom.
when these 2 indicators turned up on both
last 2 ocassions they created a 60 point
up movement.
Third time again??
On the chart you can see on the
lower indicators of RSI and momentum
a bullish double bottom.
when these 2 indicators turned up on both
last 2 ocassions they created a 60 point
up movement.
Third time again??
goldfinger
- 05 Mar 2012 08:35
- 277 of 346
CIU CAPE
That new Broker note in more detail..
Broker Notes
WH Ireland initiated coverage of Cape (CIU) with a "buy" rating and target price of 515p. The broker believes the energy services company is well positioned to take advantage of growing world energy demand and added that the firm's key growth driver will be the Australian liquefied Natural Gas sector. The broker's forecasts put the shares on a prospective multiple of 9.5 times in 2012, falling to 8.1 times in 2013, which it noted is well below the peer group average. The shares edge up by 0.2p to 440p.
http://uk-analyst.com/shop/page-advice/action-advertorial.show/id-130016739
That new Broker note in more detail..
Broker Notes
WH Ireland initiated coverage of Cape (CIU) with a "buy" rating and target price of 515p. The broker believes the energy services company is well positioned to take advantage of growing world energy demand and added that the firm's key growth driver will be the Australian liquefied Natural Gas sector. The broker's forecasts put the shares on a prospective multiple of 9.5 times in 2012, falling to 8.1 times in 2013, which it noted is well below the peer group average. The shares edge up by 0.2p to 440p.
http://uk-analyst.com/shop/page-advice/action-advertorial.show/id-130016739
skinny
- 06 Mar 2012 07:22
- 278 of 346
Final Results.
Highlights
· Record revenues with strongest growth since 2007 - up 21.5% in H2 from pickup in project work in key markets
· Adjusted Profit Before Tax of £69.4m (2010: £69.1m) and adjusted diluted earnings per share of 43.8p (2010: 42.6p) which includes impact of one-off charges of £5.5m
· Proposed final dividend of 9.5p per share (2010: 8.0p) giving a 16.7% increase in full year dividend to 14.0p (payout ratio of 32.0%), reflecting the Board's confidence in the Group's prospects.
· Working Capital outflow of £43.1m, driven by record activity levels in Q4 and timing of investments and receipts on four major projects
· Firm order book increased by 9.7% to c £940m with over 68% (2010: 63%) of consensus Full Year 2012 revenues secured
· As expected, momentum is building in a number of key regions and projects indicating that Cape is entering a sustained period of demand growth for its services
· Significant corporate activity throughout the year, including our move from AIM to the London Stock Exchange's main board, a refinancing of the Group's bank facility and two bolt-on acquisitions
Highlights
· Record revenues with strongest growth since 2007 - up 21.5% in H2 from pickup in project work in key markets
· Adjusted Profit Before Tax of £69.4m (2010: £69.1m) and adjusted diluted earnings per share of 43.8p (2010: 42.6p) which includes impact of one-off charges of £5.5m
· Proposed final dividend of 9.5p per share (2010: 8.0p) giving a 16.7% increase in full year dividend to 14.0p (payout ratio of 32.0%), reflecting the Board's confidence in the Group's prospects.
· Working Capital outflow of £43.1m, driven by record activity levels in Q4 and timing of investments and receipts on four major projects
· Firm order book increased by 9.7% to c £940m with over 68% (2010: 63%) of consensus Full Year 2012 revenues secured
· As expected, momentum is building in a number of key regions and projects indicating that Cape is entering a sustained period of demand growth for its services
· Significant corporate activity throughout the year, including our move from AIM to the London Stock Exchange's main board, a refinancing of the Group's bank facility and two bolt-on acquisitions
goldfinger
- 06 Mar 2012 07:57
- 279 of 346
In fact beat concensus forecasts with
plenty of room to spare.
looking for broker upgrades now.
They have a meeting at 9.30am.
plenty of room to spare.
looking for broker upgrades now.
They have a meeting at 9.30am.
goldfinger
- 06 Mar 2012 07:58
- 280 of 346
We are recommending a 16.7% increase in the full year dividend, reflecting the Board's confidence in the prospects for Cape. Trading momentum has continued into the new year with excellent visibility and the Board is confident that Cape is well-positioned for continued growth."
goldfinger
- 06 Mar 2012 08:39
- 281 of 346
829 GMT [Dow Jones] Cape (CIU.LN) +5.6% at 453p, topping the FTSE 250 index after releasing preliminary results that are ahead of expectations, says brokerage WH Ireland, raising the target to 530p from 515p. Broker says Cape is fundamentally well placed to benefit from the rise in global energy demand over the next few years, and the circa 10% rise in the order book is encouraging. "Although we are likely to see a greater number of smaller liquefied natural gas contracts in Australia than the large headline grabbing awards we anticipated last year, growth opportunities remain," it says. Adds that although risks remain, "given the present valuation ascribed, strength of the balance sheet and positive market outlook, we maintain our buy recommendation
goldfinger
- 06 Mar 2012 09:02
- 282 of 346
BRIEF-RESEARCH ALERT-JP Morgan raises Cape price target
06 Mar 2012 - 07:55
,b>March 6 (Reuters) - Cape Intermediate Holdings PLC :
* JP Morgan raises Cape price target to 576P from 518P; rating
overweight
For a summary of rating actions and price target changes on European companies:
Reuters Eikon users, click on RCH/EUROPE
06 Mar 2012 - 07:55
,b>March 6 (Reuters) - Cape Intermediate Holdings PLC :
* JP Morgan raises Cape price target to 576P from 518P; rating
overweight
For a summary of rating actions and price target changes on European companies:
Reuters Eikon users, click on RCH/EUROPE
goldfinger
- 06 Mar 2012 09:06
- 283 of 346
BRIEF-RESEARCH ALERT-WH Ireland raises Cape target price
06 Mar 2012 - 07:59
March 6 (Reuters) - Cape Intermediate Holdings PLC :
* Wh Ireland raises Cape target price to 530P from 515P; rating buy
For a summary of rating actions and price target changes on European companies:
Reuters Eikon users, click on [RCH/EUROPE]
06 Mar 2012 - 07:59
March 6 (Reuters) - Cape Intermediate Holdings PLC :
* Wh Ireland raises Cape target price to 530P from 515P; rating buy
For a summary of rating actions and price target changes on European companies:
Reuters Eikon users, click on [RCH/EUROPE]
dandu71 - 21 Mar 2012 17:04 - 284 of 346
Buying opportunity the past couple of days, still a good buy at this level.
skinny
- 29 Mar 2012 08:22
- 285 of 346
Directorate Change. About as popular as the proverbial "turd in the swimming pool".
dandu71 - 29 Mar 2012 09:03 - 286 of 346
not wrong skinny, makes you wonder if he know something we don`t.
skinny
- 17 Apr 2012 12:45
- 287 of 346
JP Morgan > 5%
skinny
- 01 May 2012 07:14
- 288 of 346
Interim Management Statement.
Interim Management Statement
Cape plc, the international provider of essential, non-mechanical support services principally to the energy and mineral resources sectors, today provides its Interim Management Statement for the year to date.
Trading
The Group is pleased to confirm that overall trading has been in line with the Board's expectations, with revenues for the three months ended 31 March 2012 some 16% higher than the comparable period last year, including a contribution from acquisitions of 3% and a positive currency effect of 3%. On a constant currency organic basis, revenues increased by 10%.
Regional/segmental activity levels were as anticipated with double digit revenue growth in our three largest regions. Operating margins have remained in line with last year except for the anticipated reduction in the Gulf/Middle East Region.
Financial position
There have been no significant changes to the financial position of the Group since the publication of the preliminary results on 6 March 2012.
Outlook and guidance
Cape has made a solid start to 2012 with continued double digit revenue growth following the strong revenue growth in the second half of 2011. The Board is confident the Group is well positioned for the remainder of the year and the Group's order intake continues to support this with the order book slightly ahead of year end levels.
Guidance remains unchanged from that notified with the preliminary results and Cape expects to announce interim results for the six months ending 30 June 2012 on Thursday 30 August 2012. Cape is holding its annual general meeting at 10.30 am on 16 May in London, UK.
- Ends -
Interim Management Statement
Cape plc, the international provider of essential, non-mechanical support services principally to the energy and mineral resources sectors, today provides its Interim Management Statement for the year to date.
Trading
The Group is pleased to confirm that overall trading has been in line with the Board's expectations, with revenues for the three months ended 31 March 2012 some 16% higher than the comparable period last year, including a contribution from acquisitions of 3% and a positive currency effect of 3%. On a constant currency organic basis, revenues increased by 10%.
Regional/segmental activity levels were as anticipated with double digit revenue growth in our three largest regions. Operating margins have remained in line with last year except for the anticipated reduction in the Gulf/Middle East Region.
Financial position
There have been no significant changes to the financial position of the Group since the publication of the preliminary results on 6 March 2012.
Outlook and guidance
Cape has made a solid start to 2012 with continued double digit revenue growth following the strong revenue growth in the second half of 2011. The Board is confident the Group is well positioned for the remainder of the year and the Group's order intake continues to support this with the order book slightly ahead of year end levels.
Guidance remains unchanged from that notified with the preliminary results and Cape expects to announce interim results for the six months ending 30 June 2012 on Thursday 30 August 2012. Cape is holding its annual general meeting at 10.30 am on 16 May in London, UK.
- Ends -
skinny
- 02 May 2012 15:30
- 289 of 346
2nd good day on the back of IMS.
JP Morgan Cazenove reiterates it's Overweight TP 633.00p
;MA(50);MA(100)&IND=VOLMA(60);RSI(14);MTM(6,6)&Layout=2Line;Default;Price;HisDate&XCycle=&XFormat=)
JP Morgan Cazenove reiterates it's Overweight TP 633.00p
skinny
- 08 May 2012 15:58
- 290 of 346
And all the way back down again - ex dividend tomorrow 9.5p.
skinny
- 18 May 2012 09:40
- 291 of 346
Arden Partners Upgrades to Buy TP 470p.
skinny
- 25 May 2012 08:02
- 292 of 346
Cape plc
("Cape" or the "Company")
Algeria Contract Update
Cape plc, the international provider of essential, non-mechanical support services principally to the energy and mineral resources sectors, today provides an update on its GL3-Z LNG project in Arzew in Algeria ("Arzew Project").
The contract, awarded to Cape in 2010 by Snamprogetti Chiyoda s.a.s. di Saipem S.p.A., is for the provision of the total insulation works for the Sonatrach GL3-Z LNG Project. Based on the results of a review in February 2012, and as indicated in the Company's 2011 results announcement in March 2012, the timing of the work releases on the Arzew Project had been slower than expected with revenues in 2011 less than one-third of planned levels. With the mechanical completion date being unchanged, it was also explained that it had been necessary to significantly increase our manpower on the project.
A further project review was held in mid-April during which no material concerns were highlighted by the project team. Given the size, location and management of the project, Acting CEO Brendan Connolly deemed it appropriate to conduct an operational audit in mid-May. This further review has identified additional costs arising within the Arzew Project, which as a result is currently projected to produce a significant loss. The Board has instigated a plan to mitigate the potential losses on the Arzew Project including the injection of a new project team, the introduction of additional skilled workforce and the rigorous application of Cape processes. However, based on the latest available estimates, Cape intends to recognise a one-off charge of £14 million in respect of current and estimated future losses on the contract, which will be charged in the Interim Accounts for the six months ending 30 June 2012.
The Company now anticipates that its profit before tax for the full year ending 31 December 2012 will be reduced by the above one-off charge. Cape reiterates its previously issued guidance for revenues for the full year ending 31 December 2012, which is unchanged.
- Ends -
("Cape" or the "Company")
Algeria Contract Update
Cape plc, the international provider of essential, non-mechanical support services principally to the energy and mineral resources sectors, today provides an update on its GL3-Z LNG project in Arzew in Algeria ("Arzew Project").
The contract, awarded to Cape in 2010 by Snamprogetti Chiyoda s.a.s. di Saipem S.p.A., is for the provision of the total insulation works for the Sonatrach GL3-Z LNG Project. Based on the results of a review in February 2012, and as indicated in the Company's 2011 results announcement in March 2012, the timing of the work releases on the Arzew Project had been slower than expected with revenues in 2011 less than one-third of planned levels. With the mechanical completion date being unchanged, it was also explained that it had been necessary to significantly increase our manpower on the project.
A further project review was held in mid-April during which no material concerns were highlighted by the project team. Given the size, location and management of the project, Acting CEO Brendan Connolly deemed it appropriate to conduct an operational audit in mid-May. This further review has identified additional costs arising within the Arzew Project, which as a result is currently projected to produce a significant loss. The Board has instigated a plan to mitigate the potential losses on the Arzew Project including the injection of a new project team, the introduction of additional skilled workforce and the rigorous application of Cape processes. However, based on the latest available estimates, Cape intends to recognise a one-off charge of £14 million in respect of current and estimated future losses on the contract, which will be charged in the Interim Accounts for the six months ending 30 June 2012.
The Company now anticipates that its profit before tax for the full year ending 31 December 2012 will be reduced by the above one-off charge. Cape reiterates its previously issued guidance for revenues for the full year ending 31 December 2012, which is unchanged.
- Ends -
skinny
- 25 May 2012 08:06
- 293 of 346
Out of extended auction -32.4%
goldfinger
- 25 May 2012 08:35
- 294 of 346
ohhhhhhhhhhhhhhhhhh close do mate close do. was thinking of buying these a few days back but chap across road warned. looks like cockneys had his ass singed. As usual deynys it. See thread over their.
skinny
- 25 May 2012 09:26
- 295 of 346
I've had these a few times over the years and have been watching again for a while - I thought better on the events on March 29th.
goldfinger
- 25 May 2012 09:37
- 296 of 346
Yep ive always found management to be under performers here. Remember the days of the asbestos claims.
goldfinger
- 25 May 2012 09:39
- 297 of 346
Late Peter Hippy said to me once......." mick if theirs any doubt stay out".
Words of wisdom. Appreciated.
Words of wisdom. Appreciated.
Energeticbacker - 25 May 2012 13:11 - 298 of 346
"Perils of the smaller contracting business
The valuation looks compelling....in any other market"
Commentary at http://www.investorschampion.com/research/company/cape/
The valuation looks compelling....in any other market"
Commentary at http://www.investorschampion.com/research/company/cape/
skinny
- 30 May 2012 07:11
- 299 of 346
Appointment of Group Chief Executive Officer
Cape plc, the international provider of essential, non-mechanical support services principally to the energy and mineral resources sectors, is pleased to announce the appointment of Joe Oatley as Group Chief Executive Officer with effect from 29 June 2012.
Joe joins Cape from Hamworthy plc, a global engineering business serving the oil & gas industry. Joe joined Hamworthy as Chief Executive in 2007 and led the group until its recent takeover by Wartsila. Prior to this his experience was predominantly in the engineering sector in a variety of roles including managing director, in strategy development and acquisitions.
Concurrent with Joe's appointment as CEO, Brendan Connolly will step down as acting CEO and be reappointed as a member of the Audit, Remuneration and Nomination Committees with effect from the same date.
In addition, further to David McManus' decision to stand down from the Board as a Non-executive Director once a suitable replacement is found, as announced on 31 August 2011, the Board has appointed Brendan Connolly as Chairman of the Remuneration Committee and Michael Merton as Senior Independent Director, both appointments being with effect from 29 June 2012.
Tim Eggar, Cape's Chairman, commented: "I am delighted to welcome Joe to Cape and believe his background in the sector and track record with Hamworthy make him the perfect appointment to take Cape into the next stage of its development. I would also like to thank Brendan for his huge contribution as acting CEO, both for the continuity he has provided and the extent of his efforts in recent weeks."
Joe Oatley commented: "Cape has an established position as a global leader in providing mission critical services to the energy and mineral resources sectors. I am excited to be joining the business and look forward to building on the core strengths of the group to deliver long term value to shareholders."
Joe is a former director of Hamworthy plc. In accordance with the UK Listing Rules, the Company confirms that there are no further details that are required to be disclosed under paragraph LR 9.6.13 R of the UK Listing Rules in respect of Joe Oatley.
- Ends -
Cape plc, the international provider of essential, non-mechanical support services principally to the energy and mineral resources sectors, is pleased to announce the appointment of Joe Oatley as Group Chief Executive Officer with effect from 29 June 2012.
Joe joins Cape from Hamworthy plc, a global engineering business serving the oil & gas industry. Joe joined Hamworthy as Chief Executive in 2007 and led the group until its recent takeover by Wartsila. Prior to this his experience was predominantly in the engineering sector in a variety of roles including managing director, in strategy development and acquisitions.
Concurrent with Joe's appointment as CEO, Brendan Connolly will step down as acting CEO and be reappointed as a member of the Audit, Remuneration and Nomination Committees with effect from the same date.
In addition, further to David McManus' decision to stand down from the Board as a Non-executive Director once a suitable replacement is found, as announced on 31 August 2011, the Board has appointed Brendan Connolly as Chairman of the Remuneration Committee and Michael Merton as Senior Independent Director, both appointments being with effect from 29 June 2012.
Tim Eggar, Cape's Chairman, commented: "I am delighted to welcome Joe to Cape and believe his background in the sector and track record with Hamworthy make him the perfect appointment to take Cape into the next stage of its development. I would also like to thank Brendan for his huge contribution as acting CEO, both for the continuity he has provided and the extent of his efforts in recent weeks."
Joe Oatley commented: "Cape has an established position as a global leader in providing mission critical services to the energy and mineral resources sectors. I am excited to be joining the business and look forward to building on the core strengths of the group to deliver long term value to shareholders."
Joe is a former director of Hamworthy plc. In accordance with the UK Listing Rules, the Company confirms that there are no further details that are required to be disclosed under paragraph LR 9.6.13 R of the UK Listing Rules in respect of Joe Oatley.
- Ends -
skinny
- 01 Aug 2012 07:07
- 300 of 346
Trading Update
The trading performance of Cape's Onshore business unit in Australia (reported as part of Cape's Far East/Pacific Rim Region) deteriorated sharply in the second quarter. Following a review of this business, it has become clear that the trading performance for the Far East/Pacific Rim Region for the remainder of the year will be well below management's previous expectations. Lower revenue, combined with increasing pricing pressure, has led to operating margins being significantly lower than previously expected. With delays in major project work in Australia now apparent, no improvement in activity levels is expected in the near term. A review of the region's business structure is now underway and an initial overhead cost reduction plan has been implemented. Management now expects revenue from this region for the year to 31 December 2012 to be slightly less than that of 2011 and operating margin, before the impact of any restructuring, to reduce to approximately half of 2011 levels.
In the Far East/Pacific Rim, the Group is more exposed to the construction support services cycle than in other more mature regions in which Cape enjoys leading market positions, underpinned by a solid maintenance support services base with multi-year contracts. Whilst capital spending in the Far East/Pacific Rim region is expected to benefit Cape strongly over the medium term, the timing of work releases on the major projects remains uncertain.
The deterioration in performance in the Far East/Pacific Rim Region will have a significant effect on overall Group performance in the near term. The Group is therefore unlikely to meet previous expectations for the year to 31 December 2012 and, whilst steps are being taken to restructure the region's business unit, the challenging conditions in the Far East/Pacific Rim Region are expected to persist into 2013.
The UK Region continues to trade strongly supported by long term maintenance contracts. Activity levels in the Middle East show good growth albeit at lower margins. In the CIS & North Africa Region activity levels remain robust and the one off charge previously announced in respect of the GL3 Z LNG project in Arzew in Algeria is expected to remain sufficient.
Cape will report results for the six months ended 30 June 2012 on 30 August 2012.
-Ends-
The trading performance of Cape's Onshore business unit in Australia (reported as part of Cape's Far East/Pacific Rim Region) deteriorated sharply in the second quarter. Following a review of this business, it has become clear that the trading performance for the Far East/Pacific Rim Region for the remainder of the year will be well below management's previous expectations. Lower revenue, combined with increasing pricing pressure, has led to operating margins being significantly lower than previously expected. With delays in major project work in Australia now apparent, no improvement in activity levels is expected in the near term. A review of the region's business structure is now underway and an initial overhead cost reduction plan has been implemented. Management now expects revenue from this region for the year to 31 December 2012 to be slightly less than that of 2011 and operating margin, before the impact of any restructuring, to reduce to approximately half of 2011 levels.
In the Far East/Pacific Rim, the Group is more exposed to the construction support services cycle than in other more mature regions in which Cape enjoys leading market positions, underpinned by a solid maintenance support services base with multi-year contracts. Whilst capital spending in the Far East/Pacific Rim region is expected to benefit Cape strongly over the medium term, the timing of work releases on the major projects remains uncertain.
The deterioration in performance in the Far East/Pacific Rim Region will have a significant effect on overall Group performance in the near term. The Group is therefore unlikely to meet previous expectations for the year to 31 December 2012 and, whilst steps are being taken to restructure the region's business unit, the challenging conditions in the Far East/Pacific Rim Region are expected to persist into 2013.
The UK Region continues to trade strongly supported by long term maintenance contracts. Activity levels in the Middle East show good growth albeit at lower margins. In the CIS & North Africa Region activity levels remain robust and the one off charge previously announced in respect of the GL3 Z LNG project in Arzew in Algeria is expected to remain sufficient.
Cape will report results for the six months ended 30 June 2012 on 30 August 2012.
-Ends-
skinny
- 01 Aug 2012 08:05
- 301 of 346
And down 43.1% at open.
mitzy - 01 Aug 2012 08:41 - 302 of 346
Could fall to 100p imo.
skinny
- 30 Aug 2012 07:02
- 303 of 346
Highlights
• Revenue growth of 9.8% CER with growth in our three largest regions. Underlying organic growth of £23.0m (6.9%)
• H1 operating profit impacted by operational weakness on the Arzew project in Algeria and margin reduction in the onshore business in Australia
• UK revenue increased by 9% to a record £148m, excluding acquisitions, driven by additional offshore maintenance work for North Sea operators
• Completed acquisition of Hong Kong Fuji Technology Co., Ltd ("HFT") in Hong Kong for a consideration of HKD 58m (£4.75m) in March 2012, establishing a position in the maintenance market in this region. All three acquisitions made in the last 18 months have performed in line with, or ahead of, expectations
• Substantial forward order book at 30 June 2012 of £920m (H1 2011: £830m)
• Comprehensive business review of Far East/Pacific Rim operations underway
• Interim dividend maintained at 4.5p per share (H1 2011: 4.5p)
HARRYCAT
- 30 Aug 2012 08:35
- 304 of 346
That's a funny ol' graph skinny! Along with your new 'ladle' pattern, I think you should have a go at this one.
skinny
- 30 Aug 2012 08:42
- 305 of 346
Harry :-)
It looks like a cascade pattern - which, btw, is (I think) already a known pattern.
Joking aside, I thought it may fall again, although the dividend has been maintained - worth watching!
It looks like a cascade pattern - which, btw, is (I think) already a known pattern.
Joking aside, I thought it may fall again, although the dividend has been maintained - worth watching!
skinny
- 30 Aug 2012 08:58
- 306 of 346
In auction +19.4%
dreamcatcher
- 02 Sep 2012 08:16
- 307 of 346
Investors in energy services group Cape (LSE: CIU.L - news) have had a roller-coaster few years, but things have been particularly difficult of late. Since November 2011, the group has issued three profit warnings.
This followed a sharp recovery since the financial crisis, when the shares slumped on concerns Cape may not be able to service debt. However, last week there was finally some good news from new chief executive Joe Oatley, who joined in June. The shares soared by 20pc after the company confirmed it would meet the lowered expectations in the current financial year.
= Good news on Cape dividend =
Cape provides scaffolding, insulation and painting services to the oil and gas and power industries.
Cape’s interim numbers were significantly below last year’s figures, following a £14m provision for a contract that went wrong in Algeria. This was the subject of its profits warning in May. In the six months to June, revenues rose 11pc to £371.6m, with pre-tax profits slumping 70pc to £9.9m.
Reassuringly, the interim dividend was maintained at 4.5p. Some thought it may be trimmed. Based on current forecasts, the prospective yield is 6.3pc.
= Bad news is now out =
The market was relieved that there was no further bad news.
The implication is that after the group’s third warning at the end of last month, Mr Oatley has “kitchen sinked” all bad news into the market after a review of the group’s operations worldwide.
The current order book stands at a healthy £920m. This is only a 2pc fall since December 2011 and, with the group highlighting a slowdown in the Middle East, this looked fairly positive, given the tough backdrop. For 2013, £307m of work has been secured, which is on track for this stage of the year.
= Focus on new contracts =
The last profit warning related to a slowdown in Australia, where there had been high hopes that Cape could win significant contracts for liquefied natural gas (LNG) projects.
This is still a possibility, but should not be taken for granted. The company is currently reviewing its Far East business, which should help with costs.
Trading on a December 2012 earnings multiple of 8.8, falling to 6, the shares are undoubtedly cheap.
The new management has to tighten up the controls and win more contracts. But, since the bad news appears to be all out, the shares are a buy again.
..
This followed a sharp recovery since the financial crisis, when the shares slumped on concerns Cape may not be able to service debt. However, last week there was finally some good news from new chief executive Joe Oatley, who joined in June. The shares soared by 20pc after the company confirmed it would meet the lowered expectations in the current financial year.
= Good news on Cape dividend =
Cape provides scaffolding, insulation and painting services to the oil and gas and power industries.
Cape’s interim numbers were significantly below last year’s figures, following a £14m provision for a contract that went wrong in Algeria. This was the subject of its profits warning in May. In the six months to June, revenues rose 11pc to £371.6m, with pre-tax profits slumping 70pc to £9.9m.
Reassuringly, the interim dividend was maintained at 4.5p. Some thought it may be trimmed. Based on current forecasts, the prospective yield is 6.3pc.
= Bad news is now out =
The market was relieved that there was no further bad news.
The implication is that after the group’s third warning at the end of last month, Mr Oatley has “kitchen sinked” all bad news into the market after a review of the group’s operations worldwide.
The current order book stands at a healthy £920m. This is only a 2pc fall since December 2011 and, with the group highlighting a slowdown in the Middle East, this looked fairly positive, given the tough backdrop. For 2013, £307m of work has been secured, which is on track for this stage of the year.
= Focus on new contracts =
The last profit warning related to a slowdown in Australia, where there had been high hopes that Cape could win significant contracts for liquefied natural gas (LNG) projects.
This is still a possibility, but should not be taken for granted. The company is currently reviewing its Far East business, which should help with costs.
Trading on a December 2012 earnings multiple of 8.8, falling to 6, the shares are undoubtedly cheap.
The new management has to tighten up the controls and win more contracts. But, since the bad news appears to be all out, the shares are a buy again.
..
skinny
- 11 Sep 2012 07:10
- 308 of 346
Cape establishes joint venture in Kazakhstan
Cape plc, the international provider of essential, non-mechanical support services to the energy and mineral resources sectors, announces the establishment of a new Joint Venture, 'Cape Caspian LLP', in Kazakhstan. The joint venture is jointly owned by Cape and the Lancaster Group, a highly reputable private company consisting of several divisions operating in different sectors of the Kazakhstan economy including the energy, oil services and mining sectors, where Lancaster has a number of international partners.
Cape has operated successfully in Kazakhstan for over twelve years. One of its clients, ERSAI Caspian Contractor, a Lancaster Group and Saipem joint venture based in Mangystau region, is among the biggest contractors for Kashagan oilfield development, one of the largest oil discoveries in recent history. By building on the strong local presence of Lancaster Group, the Cape Caspian joint venture will expand the range of opportunities for Cape in the growing Kazakhstan market.
Cape plc, the international provider of essential, non-mechanical support services to the energy and mineral resources sectors, announces the establishment of a new Joint Venture, 'Cape Caspian LLP', in Kazakhstan. The joint venture is jointly owned by Cape and the Lancaster Group, a highly reputable private company consisting of several divisions operating in different sectors of the Kazakhstan economy including the energy, oil services and mining sectors, where Lancaster has a number of international partners.
Cape has operated successfully in Kazakhstan for over twelve years. One of its clients, ERSAI Caspian Contractor, a Lancaster Group and Saipem joint venture based in Mangystau region, is among the biggest contractors for Kashagan oilfield development, one of the largest oil discoveries in recent history. By building on the strong local presence of Lancaster Group, the Cape Caspian joint venture will expand the range of opportunities for Cape in the growing Kazakhstan market.
skinny
- 15 Oct 2012 16:02
- 309 of 346
UBS Initiates/Starts Buy TP 320p.
skinny
- 12 Nov 2012 07:18
- 310 of 346
Interim Management Statement
For the three months ended 30 September 2012 Cape delivered year-on-year revenue growth of 6% driven by higher activity levels primarily in the CIS and Gulf/Middle East regions, partially offset by lower activity levels in Australia.
The trading performance of the Group's businesses in the UK, CIS/Mediterranean & North Africa and Gulf/Middle East regions and Asia was in line with expectations. However, the Group's operating margin was impacted by a substantial deterioration in the performance of the Group's onshore Australian business driven by both a further downturn in current trading and the recognition of a number of legacy issues. As part of the previously reported review of the Group's Australian operations, a detailed review of the onshore Australian business' balance sheet was initiated which has led to the identification and correction of a number of issues relating to the valuation of certain balance sheet items. This review is expected to be complete before year-end; until then there remains some uncertainty over the full year performance for this business.
For the three months ended 30 September 2012 Cape delivered year-on-year revenue growth of 6% driven by higher activity levels primarily in the CIS and Gulf/Middle East regions, partially offset by lower activity levels in Australia.
The trading performance of the Group's businesses in the UK, CIS/Mediterranean & North Africa and Gulf/Middle East regions and Asia was in line with expectations. However, the Group's operating margin was impacted by a substantial deterioration in the performance of the Group's onshore Australian business driven by both a further downturn in current trading and the recognition of a number of legacy issues. As part of the previously reported review of the Group's Australian operations, a detailed review of the onshore Australian business' balance sheet was initiated which has led to the identification and correction of a number of issues relating to the valuation of certain balance sheet items. This review is expected to be complete before year-end; until then there remains some uncertainty over the full year performance for this business.
mitzy - 12 Nov 2012 08:26 - 311 of 346
A 30% fall not good.
hlyeo98 - 12 Nov 2012 08:52 - 312 of 346
What's wrong with the statement today... not too bad imo.
hlyeo98 - 12 Nov 2012 09:08 - 313 of 346
Strong buy at 171p
hlyeo98 - 12 Nov 2012 09:31 - 314 of 346
180p now... still super cheap... BUY now.
skinny
- 28 Nov 2012 16:43
- 315 of 346
Mind the gap.
mitzy - 12 Dec 2012 20:36 - 316 of 346
Mind the gap..lol.
skinny
- 07 Jan 2013 15:09
- 317 of 346
goldfinger
- 08 Jan 2013 01:34
- 318 of 346
Wierdiest chart Ive come across.
Toya
- 08 Jan 2013 07:17
- 319 of 346
Hadn't seen this chart before! - Love your 'mind the gap' Skinny!
On 6 December 2012, Mr Michael Speakman was appointed Chief Financial Officer. He purchased 24,906 Ordinary Shares at a price of £2.008 pence per share. - Good sign.
On 6 December 2012, Mr Michael Speakman was appointed Chief Financial Officer. He purchased 24,906 Ordinary Shares at a price of £2.008 pence per share. - Good sign.
skinny
- 15 Jan 2013 06:36
- 320 of 346
Toya - I've used it for years - ingrained in me from too many years commuting! :-)
Not totally relevant, but as I'm looking to go long here, I'll post it anyway!
Oil and gas 'jobs boom' forecast for North Sea
A new forecast for the UK's oil and gas industry has suggested a "boom" this year in offshore jobs as North Sea oil continues to experience growth.
Oilandgaspeople.com, a recruitment firm specialising in the energy sector, has said that between 40,000 and 50,000 new jobs could be created.
It also predicted the onset of shale gas exploration would boost prospects.
Not totally relevant, but as I'm looking to go long here, I'll post it anyway!
Oil and gas 'jobs boom' forecast for North Sea
A new forecast for the UK's oil and gas industry has suggested a "boom" this year in offshore jobs as North Sea oil continues to experience growth.
Oilandgaspeople.com, a recruitment firm specialising in the energy sector, has said that between 40,000 and 50,000 new jobs could be created.
It also predicted the onset of shale gas exploration would boost prospects.
skinny
- 22 Jan 2013 16:16
- 321 of 346
I've gone long here today - the timing wasn't great, but hopefully some upside.
From Friday.
Cape secures extension to SABIC contract
From Friday.
Cape secures extension to SABIC contract
skinny
- 13 Feb 2013 16:07
- 322 of 346
goldfinger
- 20 Feb 2013 14:26
- 323 of 346
Gone long with you guys.
goldfinger
- 20 Feb 2013 15:21
- 324 of 346
cynic
- 20 Feb 2013 18:40
- 325 of 346
meanwhile sp is very close to 200 dma and with a general consolidation surely in the cards soon, i see no hurry to jump in
kimoldfield
- 20 Feb 2013 21:52
- 326 of 346
Tipped by Tom Winnifrith, is that good or bad?!
skinny
- 21 Feb 2013 06:25
- 327 of 346
Kim - Oh sh*t! :-)
RSI still on the up and now with some volume.
RSI still on the up and now with some volume.
goldfinger
- 21 Feb 2013 08:31
- 328 of 346
Flogged mine which I bought yesterday afternoon as soon as market opened.
Winnie i realise now is a dammed curse.
Winnie i realise now is a dammed curse.
skinny
- 01 Mar 2013 09:55
- 329 of 346
Final Results 6th March.
skinny
- 06 Mar 2013 07:06
- 330 of 346
Final Results
Highlights
• Adjusted revenue growth of 7% to £749.4m, with growth in all of our regions for continuing business
• Adjusted operating profit down by 60% to £31.5m (2011:£77.9m)
• Robust performances from the majority of the Group offset by poor performances on the Arzew Project and in the Onshore Australian business:
- Arzew provision increased by £5.8m to £19.8m, all recognised in 2012
- Onshore Australian business restructured
• UK business achieved record adjusted operating profit of £30.6m (2011: £26.7m)
• Strategic review completed
• Balance sheet and key financial policy review completed
• Exceptional and other items charge of £159.4m primarily relating to Onshore Australia and a further £39.2m post-tax charge in respect of discontinued operations
• Operating cash flow up 15% to £37.7m (2011: £32.7m) resulting in adjusted net debt of £65.2m (2011: £59.2m)
• Full year dividend 14.0p (2011: 14.0p)
• Board confident of the outlook for the current year
Highlights
• Adjusted revenue growth of 7% to £749.4m, with growth in all of our regions for continuing business
• Adjusted operating profit down by 60% to £31.5m (2011:£77.9m)
• Robust performances from the majority of the Group offset by poor performances on the Arzew Project and in the Onshore Australian business:
- Arzew provision increased by £5.8m to £19.8m, all recognised in 2012
- Onshore Australian business restructured
• UK business achieved record adjusted operating profit of £30.6m (2011: £26.7m)
• Strategic review completed
• Balance sheet and key financial policy review completed
• Exceptional and other items charge of £159.4m primarily relating to Onshore Australia and a further £39.2m post-tax charge in respect of discontinued operations
• Operating cash flow up 15% to £37.7m (2011: £32.7m) resulting in adjusted net debt of £65.2m (2011: £59.2m)
• Full year dividend 14.0p (2011: 14.0p)
• Board confident of the outlook for the current year
skinny
- 06 Mar 2013 08:13
- 331 of 346
hlyeo98 - 06 Mar 2013 08:47 - 332 of 346
The bad news today has made Cape soaring... why is that?
skinny
- 06 Mar 2013 08:50
- 333 of 346
Er - have you read the highlights?
skinny
- 06 Mar 2013 08:52
- 334 of 346
Sold half @274.
skinny
- 06 Mar 2013 09:11
- 335 of 346
Northland Capital Reduce 272.50 233.00 230.00 230.00 Retains
Shore Capital Hold 272.50 233.00 - - Reiterates
Shore Capital Hold 272.50 233.00 - - Reiterates
skinny
- 07 Mar 2013 10:18
- 336 of 346
Added more @264p
skinny
- 08 Mar 2013 12:38
- 337 of 346
On the up again.
skinny
- 11 Mar 2013 11:38
- 338 of 346
Up again.
Lord Gnome
- 11 Mar 2013 21:00
- 339 of 346
A cracking run, skinny, but 300 is the real hurdle.
skinny
- 13 Mar 2013 09:41
- 340 of 346
Creeping up again.
skinny
- 13 Mar 2013 10:22
- 341 of 346
Make your mind up time @£3.
Lord Gnome
- 13 Mar 2013 17:05
- 342 of 346
Golden Cross coming!
skinny
- 14 Mar 2013 14:41
- 343 of 346
Lord Gnome
- 14 Mar 2013 17:36
- 344 of 346
Skinny,
I think we need a new thread with decent charts and links in the header. This is so out of date now. What do you think? Shall I set up a new thread?
I think we need a new thread with decent charts and links in the header. This is so out of date now. What do you think? Shall I set up a new thread?
skinny
- 14 Mar 2013 20:14
- 345 of 346
You can do - or we could ask GF to update the header?
Lord Gnome
- 14 Mar 2013 22:53
- 346 of 346
Link to new thread:
http://www.moneyam.com/InvestorsRoom/posts.php?tid=17223#lastread
http://www.moneyam.com/InvestorsRoom/posts.php?tid=17223#lastread
| About MoneyAM | Ts and Cs | Privacy Policy | Investment Warning | Content Standards | Corporate Solutions | Advertise With Us | Site Map | © 2025 MoneyAM |
Register now for FREE
Share Prices,
Stock Quotes,
Charts, Bulletin Boards, Indices, Watchlists, Portfolio, Market News, Research
or see our Premium Services including Level 2, Terminal and much more.
Follow us on Twitter