Cape sees record revenues

Industrial service firm Cape said yesterday it had achieved record revenues in its first year in the FTSE 250. The company provides insulation, painting, industrial cleaning and training. Revenue jumped 11.1 per cent to £722.5m in 2011 with adjusted pre-tax profits of £69.4m compared with £69.1m the year before. In spite of delays to key construction projects in Algeria and also in Abu Dhabi, the business was able to deliver substantial second-half revenue growth," JP Morgan Cazenove analyst James Thompson said.