* Sees significant growth in onshore, offshore activity
* Expects FY11 results in line with own view
Jan 12 Industrial services provider Cape
is upbeat about its prospects for 2012 as it saw
significant growth in activity in both its onshore and offshore
The FTSE 250 company, which provides insulation, painting,
coatings, and industrial cleaning services principally to plant
operators in the oil and gas, power generation, chemical,
minerals and mining sectors, said it also expected its 2011
results to be in line with its estimates.
"In the Far East/Pacific Rim region, Cape saw increased
activity from both onshore project work, in particular
Woodside's Pluto LNG project in Australia and the Exxon
SPT (Singapore Parallel Train) Olefins project in Singapore,"
the company said in a statement on Thursday.
The company's UK business, which contributed about 40
percent to its total sales for the first half, experienced
higher levels of activity across the power belt.
Cape shares, which have lost a fifth of their value over the
past three months, closed at 361 pence on Wednesday on the
London Stock Exchange, valuing the company at about 435 million
pounds ($668 million).