Cape posts rise in quarterly revenue

INDUSTRIAL services provider Cape said its quarterly revenue rose 16 per cent, helped by double-digit sales growth in the UK and two other regions.
By The Newsroom
Published 1st May 2012, 09:25 BST

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 to March met its expectations with acquisitions contributing three per cent of sales growth and forex gains contributing another three per cent.

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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.