5th Jan 2007 07:53
Cape PLC05 January 2007 5 January 2007 Cape PLC ("Cape" or "the Company") Trading statement Cape PLC (AIM:CIU), the international provider of support services for theenergy sector, announces a trading update ahead of the announcement of itsresults for the year ended 31 December 2006, expected to be on 21 March 2007. The Directors are delighted to announce that earnings for the full year will beahead of market expectations. The strong first half performance has continuedthroughout the second half of the year and will produce a positive set of fullyear results. Several significant contract wins have been announced: at the South Hook LNGTerminal and also in Saudi Arabia, through Cape's subsidiary RB Hilton SaudiArabia Limited. Contract renewals have also been very positive. The value of newmajor contracts and contract renewals obtained in the last 12 months is now inexcess of £150 million giving excellent visibility of future earnings. It is envisaged that this robust organic growth will become complementedincreasingly by Cape taking advantage of consolidation opportunities. Theacquisition of DBI Group Limited was completed in October 2006 and marked thefirst step in Cape's commitment to ensuring it provides a full range of servicesto its blue chip client base. Demand for the company's activities remains strong and the growth prospects fornew work underpinned by the buoyant energy sector are excellent. The Board looksforward to the Company's prospects in 2007 with confidence. Further information Cape PLCMartin May, Chief Executive +44 (0) 1924 876 276 Bell Pottinger Corporate & FinancialNick Lambert +44 (0) 20 7861 3232 Notes to Editors * Cape PLC is the parent company of a number of service providing organizations operating primarily in the oil and gas, petrochemical and power generation industries * In the year to 31 December 2005, Cape reported turnover of £261.8 million and in the six months to 30 June 2006, it reported turnover of £145.1 million * Cape currently employs c. 8,200 people in 23 countries worldwide * Cape specialises in the provision of scaffolding, insulation, fire protection, specialist cleaning and other essential services to major industrial clients in the energy sector * Cape's ability to provide specialist cleaning services was enhanced by the acquisition of DBI Group Limited in October 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
CIU.L