Cape sees full-year results in line

Wakefield-based Cape, which provides maintenance services to energy and mining companies, also said it continued to trade in line with its expectations as activity levels remained strong in the second half.

The company said cash generation had been strong and it expected to have reduced debt to about 115m by 2009-end, about nine per cent ahead of market estimates.

In September, the company said it expected its full-year profit to be ahead of market estimates as its first-half profit increased by 85 per cent.

For the year ended December 31, 2009, some analysts on average are expecting Cape to post a pretax profit of 60.3m on revenue of 645.8m.

Cape's shares, which have risen almost four-fold in the past year, closed at 242 pence on Tuesday on the London Stock Exchange.