To fix a battered balance sheet, Caverton Offshore Support Group Plc is implementing strategic initiatives that will strengthen business continuity, diversify revenue streams, and enhance shareholder value.
Nigeria’s leading provider of marine, aviation, and logistics services to local and international oil posted a loss after tax of N4.62 billion in the first nine months of 2025, from a loss position of N41.60 billion as at September 2024.
Of course, the recurring losses led to a negative shareholders’ fund of N59.28 billion in September 2025, from a loss position of N54.60 billion the previous year.
There has been a reduction in pre-tax loss, thanks to cost containment and a decrease in foreign exchange (FX) losses as the FX market stabilises.
Revenue was down 40.25 percent to N20.45 billion in the period under review from N34.23 billion as at September 2024.
A breakdown of the revenue figures shows sales from Helicopter charter dipped by 23.16 percent to N6.07 billion while sales from Helicopter/Airplane contract reduced by 36.55 percent to N9.20 billion as at September 2025.
Caverton is advancing plans to launch its air cargo business to capture opportunities in Nigeria’s growing logistics and e-commerce sectors.
This follows Caverton’s participation in Nigeria’s presidential state visit to Brazil, during which the Group announced its strategic entry into cargo operations.
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