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Cape - Shares continue sharp rally

November 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • CIU
  • Price:
  • 282p
Cape, which provides industrial services such as scaffolding, insulation and fire protection to the oil & gas and mining sectors, has seen its share price rally to 282p after interim results hinted at an improving outlook. The figures themselves, which had been factored into the depressed price, showed revenues rising 11% to £372m while pretax profit fell 65% to £12m, with operating margins sinking from 11.5% to 4.3%. This reflected both a one-off £14m charge in respect of losses from its  problematic Algerian contract and reduced margins in Australia, both previously flagged. Eps dropped 67% to 7p, but there is encouragement from the order book, which rose from £830m to £920m and provides visibility of c.90% of FY20 ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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