* Says rev for 1st-qtr up 16 pct
* Says confident about 2012
* Says order book higher than last year
May 1 Industrial services provider Cape Plc
said its quarterly revenue rose 16 percent, helped by
double-digit sales growth in the United Kingdom and two other
The FTSE 250 company, which provides insulation, painting,
coatings, and industrial cleaning services to plant operators in
the energy and mining sectors, said it was well positioned for
the rest of the year as its order book was marginally higher
than a year ago.
The company said trading for January-March met its
expectations with acquisitions contributing 3 percent of sales
growth and forex gains contributing another 3 percent.
Cape said its operating margins were flat at year-ago
levels, except for the anticipated reduction in the Gulf and the
Middle East region.
The company also operates in Far East and Pacific Rim as
well as CIS, Mediterranean and North Africa.
Cape shares rose as much as 3 percent at 388.5 pence on
Tuesday morning on the London Stock Exchange. They have shed
about 14 percent of their value since the company surprised
investors and analysts last month by announcing the departure of
its CEO Martin May.