Cape PLC Share Discussion Threads

[skinny] 15/11/2013 07:22

Trading

The Group's overall trading for the third quarter was in line with the Board's expectations. Overall revenues were slightly ahead of expectations, offset by the margin impact of a less favourable mix of activity in the UK and lower than expected margin project work in the Middle East. Whilst the third quarter was in line with expectations, the Board expects that the full year result will be further impacted by operational challenges on a specific project in the Middle East.

UK & CIS

The UK business continues its robust performance and is trading in line with expectations, with higher revenue being offset by a slightly lower margin resulting from a mix of work weighted more toward the lower margin offshore market. Volumes in Kazakhstan reduced as anticipated as major project work there, such as the Kashagan development project, nears completion. Mobilisation of the significant maintenance project in Azerbaijan continues to plan and the business is focused on working with the State Oil Company of Azerbaijan (SOCAR) to agree outstanding commercial and financing arrangements for the Joint Venture.

MENA

As expected, activity levels in KSA continue to be high, partially offsetting a slowdown in UAE as several significant projects in that part of the region are coming to completion. Competitive pressures, combined with operational difficulties on a specific project in Qatar, will impact the region's performance in the second half. These operational issues have been recognised early in the project lifecycle and the necessary corrective actions are being taken. It is anticipated that second half margins for this region will be significantly below those delivered in the first half.

The Arzew Project in Algeria has been largely completed as anticipated in the revised plan; the cost to complete is within the previously disclosed provisions and cash receipts continue to be in line with agreed commercial terms.

Asia Pacific

As expected, market conditions continue to be challenging in both Asia and Australia. Despite this, the business delivered a better than expected performance in the third quarter as the benefits of the performance improvement plan for the Group's Australian business began to bear fruit. It is anticipated that this region will achieve a breakeven position by the end of the current financial year and return to profitability in FY14. This improvement in the outlook for the Australian business will be further strengthened by the award of the access contract for the Wheatstone project announced today, expected to be worth in excess of £45m. A decision on the award of the substantial insulation, fireproofing and coatings contract for the same project is expected shortly.


Order Book

The Group's order book as at 30 September 2013 stood at £482m (30 June 2013: £593m) reflecting expected timing of key target contracts and the on-going challenges in a number of the Group's markets.

The Group's financial position remains robust with net debt at 30 September 2013 of £78.3m (30 June 2013 £73.9m).

Outlook

The Board anticipates that the full year operating profit will be materially below previous expectations as a result of the project specific operational challenges in the Middle East. Group earnings per share is expected to be slightly below previous expectations as a result of the mitigating effect of the minority interest in the Qatar business and an improvement in the Group's overall tax rate.

The Group has targeted a number of key prospects to be secured during the next two quarters which will be important in delivering the Board's expectation of improved performance in 2014. The near term strategy and focus for the Management team is on securing these prospects and continuing to drive operational excellence throughout the Group.

Conference Call: 8.00am GMT 15 November 2013

A conference call for analysts and investors will take place at 8.00am this morning. The conference call can be accessed by dialling [phone] and pin code 99360776#.

[salpara111] 14/11/2013 09:06

Well, there was an IMS on the 12 Nov last year so I am hoping they can produce a decent update in the next week

[lewis1234321] 11/11/2013 21:18

291 We're here!!! getting out.Going down soon, back in at 250.Good luck to you all.

[salpara111] 29/10/2013 13:11

choking again at the 280 line, going to hold for the next few weeks and see if the next update can provide enough momentum to drive them back to the 325 level.

[mr_bluesky] 26/10/2013 18:21

just came across this and I would say that this attempt at 280p will be successful IMO.

Mr Bluesky

[salpara111] 26/10/2013 18:08

Wonder why they didn't put out an RNS for the contract win.

[skinny] 25/10/2013 09:50

Cape plc, the international provider of essential industrial services to the energy and natural resources sectors announces it has been awarded a two-year outline service agreement by STP&I Public Company Limited (STP&I).

Cape will provide scaffolding support services for Package 1, Plot A on the LNG Pre-Module Fabrication activities at the Laemchabang facility in Thailand, prior to their onward shipment to the onshore Ichthys LNG facility in Australia.

[liberatingsteptoe] 25/10/2013 09:43

Thailand contract announced.
Ls

[skinny] 25/10/2013 09:29

Interim management Statement November 18th -

[salpara111] 25/10/2013 09:19

I often wonder about the randomness of share price movements.
Here is a company that has not released any new information for months and yet the share price has cycled down by about 20% and then back up to where it was.....go figure!

[skinny] 25/10/2013 09:19

Trying 280 again.

[lewis1234321] 23/10/2013 10:28

291 approaching. Ding ding.

[lewis1234321] 15/10/2013 22:46

291 next stop

[salpara111] 15/10/2013 13:14

Looking a lot perkier today!
Still under water myself so need to see some sustained upward action.

[mechanical trader] 15/10/2013 13:14

Getting set to breakout through
downtrend channel.

DERD CHEAP.

[mechanical trader] 15/10/2013 12:09

Finance Director Bigish Buy this morning....

GONE LONG.......

Cape plc Director/PDMR Shareholding
PrintAlert
TIDMCIU
RNS Number : 5350Q
Cape plc
15 October 2013
15 October 2013
Cape plc
("Cape" or the "Company")
Director/ PDMR Shareholding
Cape plc, the international provider of essential, industrial services to the energy and natural resources sectors, was informed on 14 October 2013 of the following purchase of the Company's ordinary shares of 25 pence ("Ordinary Shares") by a Director:
Mr Michael Speakman, Chief Financial Officer, purchased 10,446 Ordinary Shares at a price of GBP2.393 pence per share on 14 October 2013, following which Michael Speakman has a beneficial interest in 35,352 Ordinary Shares representing 0.029 per cent of the issued share capital and total voting rights of the Company.

Enquiries:
Cape plc
Richard Allan
General Counsel and Company Secretary : Tel: [phone]
About Cape:

[salpara111] 03/10/2013 14:01

They really need to pull their finger out and announce some decent sized new contracts to stop this share price freefall.

[limit up] 27/9/2013 18:44

salpara
i think it is legal & general getting out before the qtr end,they have been the main seller..ref rns
regds

[salpara111] 27/9/2013 11:30

More and more curious......really big buying yesterday, over 800K bought and again today already 475K bought before middday and yet still getting marked down.
I have never seen this sort of situation before.
If there was a really big seller in the background you would expect to see some large trades at the end of the day but none have come through.

[muffster2] 26/9/2013 21:28

Harsco have sold their industrial services division to Brand Energy hxxp://www.harsco-i.co.uk/news/press_releases?view=1306.

A month or so prior to this sale Harsco took over one of Cape Plc's long term maintenance contracts for scaffolding services following a tender at Sahaviriya Steel Teesside worth around £5m per annum.

[ginna117] 26/9/2013 19:44

Have Harsco taken over Cape , or are Harsco taking over Cape?. I've been chatting to people at work and that's whats been said.
Opinions please
Thanks in advance
Ginna

[salpara111] 26/9/2013 17:43

Something really odd going on with this stock.
I accept that the buy/sell trade data is not 100% accurate but it still suggests that buys almost outpaced sells by 3:1 today and yet the huge drop.
I hold and am under water but loath to sell as there seems to be something afoot here.