Energy and mining support services firm Cape said today it expected 2012 to be a year of “significant growth in activity”.
In a year-end update it said 2011 trading had been in line with expectations.
It said strong revenue growth in quarter three of 2011 had continued into quarter four, driven by higher levels of activity in three of Cape’s four regions.
In the UK higher levels of activity were in the onshore power sector, especially in increased shutdown activities.
However, Cape said it took a £2.2million charge relating to a one-off specific fixed price turnkey contract in the offshore sector, which was now completed.
Cape said it was confidence 2012 would be a year of significant growth in activity.
“Over half of Cape’s revenues continue to be driven by essential maintenance requirements and regulatory commitments,” it said.
“With a number of major projects in our chosen sectors moving forward, we remain confident of delivering on our plans for 2012.”
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