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.

Looks like Deutsche Bank have added a few more.

I wanted volume last week. Closed at a new high yesterday on very good volume.

Looks like it might stick. ;-))))

Fly me to the moon. ;-))))

And there is 220 :-)

JP Morgan been adding.

They're a bit slow. ;-))

Another good rise today takes them into a 'busy' area - time for a bit of vigilance?

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

Al - I've sold some @230.5 for plenty :-)

skinny - you beat me by 0.75p.

Still, a multi, multi bagger is fine, thnaks. ;-)))))))))

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."

Still amazes me these ever got as low as 20p only 6 months ago.

In auction + 11.9%

I'm out of these now @260 - so its all yours now Al.

Played it this week, but not in huge amounts, skinny. Nothing in it now again.

12 month high today - chart looking intersting.

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.

Questor a wee bit late?

Great trading share now. ;-)))))))))))))

Seems to have had the desired effect!

Deutsche Bank ups stake.