Cape PLC Share Discussion Threads

[skinny] 15/5/2013 07:01

Trading

Cape is pleased to confirm that the Group's overall trading for the first quarter has been in line with the Board's expectations.

The UK, Europe & CIS region has performed in line with expectations, with volumes slightly higher and operating margins slightly lower than expectation due to the mix of work across the region. As announced on 26 April, the Group has secured an important maintenance contract in Azerbaijan through its SOCAR CAPE joint venture. The joint venture is currently mobilising to ensure a smooth transition from the previous contractor.

The MENA region has performed ahead of expectations driven by higher activity levels and slightly higher operating margins than expected. The Arzew Project in Algeria remains on track with the revised plan and the cost to complete is expected to be in line with the previously disclosed provision.

Activity levels in the Asia Pacific region remain in line with expectations reflecting higher volumes in Singapore as the large construction project comes to completion offsetting lower volume in the Onshore Australia business that reflects weakening market conditions. Operating profit margins for the region were depressed partly due to this mix of volume and partly due to lower than expected margins in the Onshore Australia business.

In light of the market conditions in Australia and resultant deterioration in business performance, management has instigated further action to reduce costs in order to deliver a strong, cost effective platform for future growth, particularly in the petroleum and LNG markets. The business expects to complete further organisational changes during 2013 including the consolidation of certain branches and the closure of some smaller branches. This will enable the business to maintain its focus on winning and executing major capital work packages whilst building a sustainable maintenance business in the long-term.

Outlook

Cape has made a solid start to 2013. The focus for the year ahead remains driving operational excellence throughout the Group to optimise the performance of its existing business whilst providing the platform for future growth.

In light of current market conditions, the regional outlook for the full year performance for 2013 is anticipated to follow a similar trend to the first quarter, with the Asia Pacific region, and Australia in particular, expected to be challenging. At this stage in the financial year the Board remains confident that the business overall is on track to deliver in line with expectations for the year ending 31 December 2013.

Financial calendar

Cape expects to announce its results for the half year ending 30 June 2013 on 29 August 2013.

[barlick] 12/5/2013 16:49

Back in Friday (10th). Happy at the price & think the company is on the right track for £4.

[kmann] 10/5/2013 12:02

Yes CR, you seem to have timed it right again, back on trend and support, 300-325 next target.

[cockneyrebel] 09/5/2013 12:33

Time to buy?

[martinc] 09/5/2013 07:36

OK, I'll bite.. as you've posted half a piece of information. What contract have they lost ; how do you know?

[border3] 08/5/2013 22:56

So they post a small contract renewal but no announcement of the loss of the biggest UK contract they have.

[lord gnome] 08/5/2013 20:23

Just about sitting on the rising trend line from November's lows. A bounce from here hopefully.

[mr_bluesky] 08/5/2013 11:23

Kmann:

There does seem to have been a wee bounce today,but with MACD trending down steeply into the -ve area and RSI streaming down also its a wait for me at this stage.

Cerca 240p could well be targetted!

Mr Bluesky

[kmann] 08/5/2013 11:18

Thanks MrB, I'd call that dip worth buying -20% from recent high and being bought in to. 400+ to be had imo

Proj - lofl

[standish11] 08/5/2013 10:55

If I recall correctly,the Slater Growth Fund offloade its holding but added some to its Income Fund.

[proj] 08/5/2013 10:43

kmann, don't get me wrong I'm looking to get in here. Just thought you should be aware as I know people take note of what the Slaters do (except Kat, who's just a mess and should sort it out with Alfie).

[salpara111] 08/5/2013 09:02

Yeah it went ex today 9.5p so will be interesting to see if the recent downtrend continues.
I guess you could say they are fully valued until they can show that they are back on track again.

[j2m] 08/5/2013 08:48

Did it go xd today? Thought it was next Thur?

[kmann] 08/5/2013 08:42

Nice divi today too and a good top up oppertunity.

[kmann] 08/5/2013 07:36

Fair enough, but definately menrioned thenm at the investor show so assumed still in, probably bought lam instead:-)

[proj] 07/5/2013 22:03

kmann. I don't know if you;re aware, but mark slater has dumped this stock.

[investopia] 07/5/2013 10:46

Contrarian, kMann? I thought he was a trend follower.

[investopia] 07/5/2013 10:44

for yoy read you!

[investopia] 07/5/2013 10:44

In case yoy don't know, Google The Zulu Principle for more background, rovers2.

[kmann] 07/5/2013 10:42

Mark Slater - Son of Jim the very asstute contraian investor ... worth listening to imo.

[skinny] 07/5/2013 10:20

Here's the link -

[liberatingsteptoe] 07/5/2013 09:41

Three year contract with Eggborough Power.
LS

[rovers2] 07/5/2013 09:36

Mr Slater???