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.

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

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

And business as usual.

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

Excelent looking chart...

In auction +10.1% :-)

Got some yesterday for my bargain bucket portfolio.

Good rise today - no direct interests in Libia, although they have interests in North Africa.

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."

Interim Management Statement.

Just out of auction -31.2%.

What's happening here???

hy IMS suggests storm clouds on the horizon

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.

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.]

Looking good Harry.

In auction.

Is there any relevance in the vertical (nov) line?

None whatsoever - I wanted to put a horizontal line at the high - it comes as a pair !

Copy that.