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.

I've gone long here today - the timing wasn't great, but hopefully some upside.

From Friday.

Cape secures extension to SABIC contract

BNY Norwich Union Nominees Limited > 3%

Gone long with you guys.

Shorters starting to buy back
from the january high........

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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

Tipped by Tom Winnifrith, is that good or bad?!

Kim - Oh sh*t! :-)

RSI still on the up and now with some volume.

Flogged mine which I bought yesterday afternoon as soon as market opened.

Winnie i realise now is a dammed curse.

Final Results 6th March.

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

The bad news today has made Cape soaring... why is that?

Er - have you read the highlights?

Sold half @274.

Northland Capital Reduce 272.50 233.00 230.00 230.00 Retains

Shore Capital Hold 272.50 233.00 - - Reiterates

Added more @264p

On the up again.

Up again.

A cracking run, skinny, but 300 is the real hurdle.

Creeping up again.