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Cape profit jumps 17.5% as it restarts dividend payments
8 Sep 2010Energy sector support services group Cape today posted a 17.5% rise in first-half profits and said it was restarting dividend payments and would look to return to London's main market in 2011.
Cape, whose customers include EDF, BP and National Grid, reported adjusted pretax profit of £35.5 million for the first six months of the year compared to £30.2 million in the first half of 2009.
The company, which provides insulation, industrial cleaning and training services to the energy and mineral resources sectors, said it would pay an interim dividend of 4p per share after a ten year absence from the dividend list.
Cape also said it would in the second quarter of 2011 seek a move to the main market of the London Stock Exchange from its current position on the junior market.
The average analysts' forecast for Cape's full-year pretax profit stands at £64 million.
