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.

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.

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.

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.

Broker flash........

just out

WH Ireland Securities initiates buy on Cape, target price 515p.

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

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

Collins Stewart reiterates its Buy TP raised from 446.00 to 507.00p

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??

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

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

In fact beat concensus forecasts with
plenty of room to spare.

looking for broker upgrades now.

They have a meeting at 9.30am.

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."

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

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

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]

Buying opportunity the past couple of days, still a good buy at this level.

Directorate Change. About as popular as the proverbial "turd in the swimming pool".

not wrong skinny, makes you wonder if he know something we don`t.

JP Morgan > 5%

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 -