Make your money go further for just 25p per day

Cape (CIU) – not the place to be in oil services

15/11/2013 · Cape (CIU) 

The international provider of essential support services to the energy and mineral resources sectors issued a disappointing Interim Management Statement for the period 1 July 2013 to date. New CEO, Joe Oatley, formerly of high margin, high cash generating Hamworthy and a totally different business to CIU, seems to have a big job on his hands sorting out this low margin service operation. There are plenty of more attractive high margin ways of playing the oil services arena http://reut.rs/HTJDR3


While overall trading for the third quarter was in line with the Board’s expectations the Board now expects the full year result will be further impacted by operational challenges on a specific project in the Middle East.

The UK business continues its robust performance and is trading in line with expectations, with higher revenue being offset by a slightly lower margin resulting from a mix of work weighted more…

Sign up and read the full article

Register to continue reading our content.

Get FREE access now

Already a member? Login


Previous article Next article

DON'T MISS OUT!

Get top investment ideas to help safeguard and grow your wealth.

Invaluable insight from the exciting world of smaller companies.

REGISTER FREE

DON'T MISS OUT ON OUR PREMIUM CONTENT

Become a champion investor for just £90 a year. Benefit from our high performing portfolios:

START FREE TRIAL

More on Cape

Cape (CIU) – not the place to be in oil services

15/11/2013 · Company Insights
The international provider of essential support services to the energy and mineral resources sectors issued a…

Cape (CIU) – another classic from Cape

12/11/2012 · Company Insights
Full year operating profits now expected to be significantly below previous expectations and the finance director…

More Company Insights

Elderly challenges | Demotion | Australian boost

21/11/2024 · Churchill China · CVS Group · Renold · Tracsis

Bonkers Bargains: poised to recover with a new CEO

20/11/2024 · James Cropper

Improving returns | Questionable business models

Sign-up to our free email updates

SIGN UP