Cape: 2017 Performance Will Be Ahead of Previous Views
June 05 2017 - 3:23AM
Dow Jones News
LONDON--Cape PLC (CIU.LN) said Monday 2017 performance will be
materially ahead of the company's previous expectations due to
continuation of a strong trading performance.
The energy services company added that it has secured two
services contracts worth 150 million pounds from BP PLC (BP.LN) and
an insulation and coatings services contract for the Ichthys
Project Onshore LNG Facilities located in Darwin, Australia.
Cape expects 2018 to be a more challenging year due to the
expected reduction in volume from the current high level of
construction activity in Asia Pacific and project delays and margin
pressures in the Middle East.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
June 05, 2017 03:08 ET (07:08 GMT)
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