Shares 

Legal settlement and orders breed Cape's optimism

Legal settlement and orders breed Cape's optimism

The proposed merger of Wood Group and Amec Foster Wheeler may have consumed oil services industry chatter in recent days, but this was also a big week for junior peer Cape (CIU). Despite a weak domestic market, strong orders from Asia Pacific and Middle East clients meant full-year earnings came in ahead of market expectations. And, while revenue and cash flow were slightly flattered by £10m to £15m of fortuitously-timed payments in December, a robust order intake of £850m was buttressed by management optimism about UK orders and downstream project commissions.

To continue reading, register today

to enjoy limited access to the following:

  • Daily trading news
  • Funds coverage
  • Features on big investment themes
  • Comprehensive companies coverage
  • Economic analysis
Register
Subscribe to Investors Chronicle

Related topics

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now