Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
It touched £2 on the way past to 162 - ouch
how much will this impact today - will it touch £2 ?
The deterioration in performance in the Far East/Pacific Rim Region will have a significant effect on overall Group performance in the near term. The Group is therefore unlikely to meet previous expectations for the year to 31 December 2012 and, whilst steps are being taken to restructure the region's business unit, the challenging conditions in the Far East/Pacific Rim Region are expected to persist into 2013. The UK Region continues to trade strongly supported by long term maintenance contracts. Activity levels in the Middle East show good growth albeit at lower margins. In the CIS & North Africa Region activity levels remain robust and the one off charge previously announced in respect of the GL3 Z LNG project in Arzew in Algeria is expected to remain sufficient. Cape will report results for the six months ended 30 June 2012 on 30 August 2012.
Trading Update Cape plc, the international provider of essential, non-mechanical support services principally to the energy and mineral resources sectors, today provides the following update. The trading performance of Cape's Onshore business unit in Australia (reported as part of Cape's Far East/Pacific Rim Region) deteriorated sharply in the second quarter. Following a review of this business, it has become clear that the trading performance for the Far East/Pacific Rim Region for the remainder of the year will be well below management's previous expectations. Lower revenue, combined with increasing pricing pressure, has led to operating margins being significantly lower than previously expected. With delays in major project work in Australia now apparent, no improvement in activity levels is expected in the near term. A review of the region's business structure is now underway and an initial overhead cost reduction plan has been implemented. Management now expects revenue from this region for the year to 31 December 2012 to be slightly less than that of 2011 and operating margin, before the impact of any restructuring, to reduce to approximately half of 2011 levels. In the Far East/Pacific Rim, the Group is more exposed to the construction support services cycle than in other more mature regions in which Cape enjoys leading market positions, underpinned by a solid maintenance support services base with multi-year contracts. Whilst capital spending in the Far East/Pacific Rim region is expected to benefit Cape strongly over the medium term, the timing of work releases on the major projects remains uncertain.
http://www.investegate.co.uk/Article.aspx?id=201208010700099886I
Cape Buy 30-May-12 £24,900.00 Tim J C Eggar 10,000 @ 249.00p Cape Buy 30-May-12 £21,631.98 Brendan Connolly 8,675 @ 249.36p Cape Buy 01-Jun-12 £19,634.40 Michael Merton 8,000 @ 245.43p
Northland Capital Partners reversed its stance on Cape (CIU) from a "sell" to a "buy", reporting that after speaking to Cape's management. Northland is reassured by the board's comments that post last Friday's unimpressive contract update, in which was the industrial services firm realised a 14 million pound charge, that the issues experienced in Algeria should not be repeated. Despite the broker believing it will take some time for investor confidence to be repaired, it commented that a solid wider trading environment suggests the business will recover from recent problems.
"I am delighted to welcome Joe to Cape and believe his background in the sector and track record with Hamworthy make him the perfect appointment to take Cape into the next stage of its development," Chairman Tim Eggar.
He replaces Martin May at Cape, who quit in March 'to pursue a new challenge'. Interim CEO Brendan Connolly will step down and be reappointed as a member of the Audit, Remuneration and Nomination Committees, the firm said.
Energy support services firm Cape has announced its a Chief Executive will join the firm at the end of June. Joe Oatley will become Group Chief Executive and comes from Hamworthy, a global engineering business serving the oil and gas industry. Prior to leading Hamworthy, Oatley worked predominantly in the engineering sector in a variety of roles including managing director, in strategy development and acquisitions.
Shore Capital downgraded its "buy" stance on Cape (CIU) to "hold", noting the recent one-off charge of 14 million pounds in relation to the Arzew contract in Algeria raises questions about board level supervision of material contracts. Although the shares fell significant last week on the news the latest development raises serious issues, and the broker believes it will take time to rebuild investor confidence in the industrial services company
BUY dyor
Ammy or Hedge? hmmm.eeni meeni lol gla
Booooooooooooooooooooooooooooooooom
steady she goes
thanks very lonely here lol good punt mate next is hsp bargain price
booooooooooooooooooooooooooooooooooooooooom
i hope you get your wish,you looked lonely on ere,so i thought ide post ere to keep ya company...lol.. seems ore is at a bargain price for the next few weeks,got me finger on the buy button,but maybe the euromadness may push it lower,who knows eh?.. cool name by the way..............£...............
How is ore doing at the moment they have started drilling anyways welcome we will see £3 today tomorrow hopefully £5 tomorrow.
it certainly is a blue day in more ways than one...lol...
2.23 just paid
get seated about to take off booooooooooooooooooooooooooooooooooom
£2.19 paid
it is here now next level