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.

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 -

2nd good day on the back of IMS.

JP Morgan Cazenove reiterates it's Overweight TP 633.00p

And all the way back down again - ex dividend tomorrow 9.5p.

Arden Partners Upgrades to Buy TP 470p.

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 -

Out of extended auction -32.4%

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.

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.

Yep ive always found management to be under performers here. Remember the days of the asbestos claims.

Late Peter Hippy said to me once......." mick if theirs any doubt stay out".

Words of wisdom. Appreciated.

"Perils of the smaller contracting business
The valuation looks compelling....in any other market"
Commentary at http://www.investorschampion.com/research/company/cape/

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 -

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-

And down 43.1% at open.

Could fall to 100p imo.

Half Yearly report

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)

That's a funny ol' graph skinny! Along with your new 'ladle' pattern, I think you should have a go at this one.