Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Cape PLC    CIU   JE00B5SJJD95

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Cape Sees GBP14 Million Hit On 2012 Pretax Profit

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/25/2012 | 08:57am CEST

Cape PLC (>> Cape plc), a provider of non-mechanical support services to the energy and mining sectors, said Friday its 2012 pretax profit will be around GBP14 million lower after the company took a hit on a contract, due to delays and increased costs.

The Arzew contract, awarded by Snamprogetti Chiyoda sas di Saipem SpA in August 2010, is for the provision of the total insulation works for the Sonatrach GL3-Z liquefied natural gas project in Arzew, Algeria.

Cape had valued the contract in excess of GBP22.5 million, with work planned to start in the first quarter of 2011 and scheduled for completion in the first half of 2012.

A project review in May, commissioned by acting Chief Executive Brendan Connolly, identified additional costs arising within the project, which as a result is now projected to produce a significant loss.

The board has instigated a plan to mitigate the potential losses, including the setting up of a new project team and the introduction of additional skilled workers.

Based on the latest available estimates, Cape intends to recognize a one-off charge of GBP14 million in respect of current and estimated future losses on the contract, which will be charged in its interim accounts for the six months ending June 30.

Cape reiterated its previous revenue guidance for 2012 of 10% growth over 2011 revenue.

Shares closed Thursday at 323.5 pence.

-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected]

Stocks mentioned in the article : Cape plc, Cape plc
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CAPE PLC
05/18 CAPE PLC : ex-dividend day for final dividend
05/15 CAPE : awarded two-year insulation, painting and refractory contract in KSA
05/10 CAPE : 10 May 2017 Results of the 2017 Annual General Meeting
05/10 CAPE : Results of the 2017 Annual General Meeting
05/10 CAPE : 10 May 2017 AGM Statement
05/10 CAPE : AGM Statement
04/18 CAPE : awarded scaffold contract for new Fadhili Facility
04/11 CAPE : awarded insulation contract
04/10 CAPE : Settles Aviva Litigation With Claims Withdrawn And No Payment
04/10DJCAPE : Settles Historic Employer Liability Litigation Claims
More news
Sector news : Business Support Services - NEC
05/17 FTSE breaks nine-day winning streak as miners, British Land fall
05/12 GERMAN PACKAGING GROUP CONSTANTIA LA : sources
04/28 Strongest week since December for European shares as investors pile in
03/30 FTSE ends little changed, support from mining stocks
03/24 Private equity firm Cinven in talks to buy chemicals firm CHRYSO
More sector news : Business Support Services - NEC
News from SeekingAlpha
2015 A New Event Debt ETF Filed By Eccles Street - ETF News And Commentary
2015 Dual Momentum Portfolio Update
Advertisement
Financials ( GBP)
Sales 2017 913 M
EBIT 2017 55,4 M
Net income 2017 35,0 M
Debt 2017 103 M
Yield 2017 2,87%
P/E ratio 2017 8,98
P/E ratio 2018 8,09
EV / Sales 2017 0,44x
EV / Sales 2018 0,43x
Capitalization 296 M
More Financials
Chart CAPE PLC
Duration : Period :
Cape PLC Technical Analysis Chart | CIU | JE00B5SJJD95 | 4-Traders
Full-screen chart
Technical analysis trends CAPE PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Average target price 2,74  GBP
Spread / Average Target 12%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Jonathan M. Oatley Group Chief Executive Officer & Executive Director
Timothy John Crommelin Eggar Non-Executive Chairman
Steve Connolly Chief Operating Officer
Michael James Speakman Chief Financial Officer & Executive Director
Michael Ralph Merton Senior Independent Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CAPE PLC67.29%379
ALLIANCE DATA SYSTEMS ..7.49%13 587
CINTAS CORPORATION8.31%13 182
VANTIV INC4.68%12 299
BUREAU VERITAS16.16%10 561
UNITED RENTALS, INC.5.51%9 395
More Results