Cape PLC Share Discussion Threads

[nicd] 30/8/2012 07:13

Reasonable results !

Difficult period but continued revenue growth, substantial forward order book and maintained interim dividend

Financial summary


H1 2012 H1 2011 Growth
AER CER
Revenue GBP371.6m GBP335.0m +10.9% +9.8%
Adjusted Profit before
tax GBP12.0m GBP34.0m -64.7% -68.2%
Profit before tax GBP9.9m GBP28.6m -65.4% -69.6%
Adjusted operating profit
margin 4.3% 11.5% -720 bps
Basic earnings per share 5.9p 17.9p -67.0%
Adjusted diluted earnings
per share 7.0p 20.9p -66.5%
Interim dividend per share 4.5p 4.5p -

[bigbigdave] 30/8/2012 07:11

Dire.
Where's this going today? 150p? Less?
Sad to see the mighty fall but should be a buy at some point in the future.

[warranty] 28/8/2012 19:11

All depends on results now and really can't expect them to be good.

[nicd] 28/8/2012 10:11

not happy on this drop back

[wylecoyote] 16/8/2012 19:27

They probably made their profits on the peaks. Fund managers like anybody else have to crystallise their profits at some point. It only creates opportunities with regards to valuations, etc.

[monkeymagic3] 16/8/2012 08:19

Not necessarily. They might be selling out ahead of the REALLY bad news!!!

[nicd] 16/8/2012 07:29

BlackRock, Inc. has sold out.

This disproves any theory of hedge funds having smart insider info. They could have sold at 600, or even 350, but no, wait for second downdraft and sell at 200. Mind, they probably bought very low.

[and1] 08/8/2012 08:41

gingerplant, same point i made in an earlier post. he will not only look good in a couple of years he will be a lot richer too

[gingerplant] 03/8/2012 10:54

I have to say, I found this week's announcement very strangely worded. You couldn't really have done a better job on a "glass half empty" basis.

When I looked quickly into what the effect on the bottom line would be - and extrapolated the likely forward earnings figures / looked at the balance sheet etc etc, I still came up with a pretty depressed valuation of around 250p per share.

So applying a lot more of a depressed discount in looking a second time, I couldn't really see it being worth less than around 220p. So I was happy to buy at 168p. But then you worry you've mistimed it - the market knows more than you etc etc.

But the wording was strange. You couldn't really have done a better (worse...) job if you'd tried - so I took it as a kind of partial kitchen sink job by the new CEO who would obviously like to take a little of the optimistic wind out of Cape's sails to make it easier to look good on a five-year type of basis, perpaps???

[varies] 03/8/2012 09:30

and1
Much amused by your post about Northland's Sell & Buy recommendations; they must have some very sore clients by now.
Let us hope us their latest advice runs true to form.

[nicd] 03/8/2012 09:27

Thats better today.

Like all firms, we investors only know good or bad news when it is released (or leaked).

you cannot trust any of them, better not to kid yourself.

here, maybe bad news out of the way for the moment but I suggest to take a portion of any profits or reduced losses after each rise.

[pbracken] 02/8/2012 10:16

Apols if this has already been posted.

0940 GMT [Dow Jones] Northland Capital downgrades Cape (CIU.LN) to sell from buy after a disappointing trading update. Cape says it's unlikely to meet previous expectations for the year to Dec 31. Northland says Cape's onshore business in Australia has seen a significant deterioration in trading during 2Q, meaning the Far East/Pacific Rim division will be below management's expectations for the full year. The brokerage had expected the Far East to show continued good levels of growth during FY12 with the operating margin improving year on year.

[snatander] 02/8/2012 09:58

Numis Securities analyst Sanjeev Bahl said Cape's Pacific Rim region operations were hit by a lack of major new project work to replace Woodside Petroleum Ltd's Pluto LNG project.

The company completed work on Pluto LNG project in Western Australia in the first quarter.

Cape expects the deterioration of performance in its Far East/Pacific Rim operations to persist into 2013.

[hyper ai] 01/8/2012 20:16

Another SCSW reccomendation.
They are something else....

[and1] 01/8/2012 20:13

Dont know where this guy gets his info from but he changes a lot!



DATE Price TARGET
01-Aug-12 Northland Capital Partners Sell 187.00p - - DownGrade
03-Jul-12 Northland Capital Partners Buy 275.00p 300.00p - Reiteration
31-May-12 Northland Capital Partners Buy 241.40p 300.00p - Upgrade
25-May-12 Northland Capital Partners Sell 205.00p - - DownGrade
01-May-12 Northland Capital Partners Buy 407.10p 590.00p - Reiteration

[border3] 01/8/2012 20:01

See now why the old CEO got kicked out. Should be an opportunity to buy not to be missed.

[and1] 01/8/2012 16:30

Mech Trader, Re: the markets I agree anything can happen but I am confident in the upside on Footsie at least till later this year when US politics can turn ugly. As it stands, ECB, Fed,Chinese QE and interest rate and ratio easings and promises of easing will keep the markets trending up inspite of declining growth numbers. Its a win win for markets - lower growth gretaer chances of QE and higher growth better for companies profits.

Varies! I think CIU is being sorted out and with full order books in the areas they are operating, 200-300 seems a a reasonable 1/2 year price range although quite low in the medium term.

[2swallow] 01/8/2012 15:50

The former CEO Martin May over paid for and badly managed the trasitional phase of the Australian deals. The company has been on the back foot from the word go in its attempts to justify the poor reformance of those companies. Now he has gone the truth will out, and i fear it will be ugly. But thats what you get with egotisic for a leader!

[varies] 01/8/2012 15:09

As And1 says, the operating margin on our Far East/Pacific Rim Region is expected to be halved this year but so is revenue. Does this not mean that our profits in the FE/PRR will be reduced by 75% ? If so, the 2011 figure of £18.9m will be reduced by about £14m.
The ARZEW contract was predicted to reduce the profits of our CIS/ North Africa division by about £14m too.
So we seem (leaving other factors and one-off provisions out of account) to be looking at profits before tax in the region of £41m (cf £69m for 2011), a fall of some 40%. Adjusting the EPS by this factor reduces it to c24p.
The ARZEW contract should not affect 2013. Perhaps we could expect PBT to be £14m higher in 2013 than 2012, worth about 8p to the EPS, but there may be more disappointments to come.
Having bought some shares after the ARZEW announcement at 209p, I had been thinking until this morning how clever I had been ! This reverse reminds me that buying shares has much in common with roulette.
Undaunted I shall probably put some more money on the table.

[nicd] 01/8/2012 14:15

try petroleum jelly!!!

[thecynical1] 01/8/2012 14:09

cute RNS......didn´t they say that they didn´t see any other real issues when they issued the last fantastic RNS a couple of weeks/months ago.........wonder what the press will make of this......could be nasty to watch....credibility....zero. jmo.

[mechanical trader] 01/8/2012 13:55

Come the 20th of this month
if Greece isnt bailed out andI,
your trade range could be shattered.

Mind the rest of the market will
be falling with it.

Im using my system with added
parimeters now.....

The FTSE 100 must have broken above
a top (5700 this time) and stay their
for over 48 hours

OR

the FTSE 100 must be coming off a bottom
(5250 this time)and stay above that for
48 hours.

Any buying or selling of stock in between
this range is futile at the moment as the
market volatility and liquidity problems
are leaving traps to be sprung.

Even intra day trading is so frustrating
at the moment.

Best sit back while OCT and enjoy the sport
and indian summer we have been promised.

[and1] 01/8/2012 11:17

i've put my money where my mouth is (see my previous comments), I expect the new trading range over the rest of the year to be netween 200-300. so those of you waiting to buy at 20p, try desire petroleum!