Investogist
No Result
View All Result
Wednesday, August 27, 2025
  • News
    • All
    • Africa
    • Nigeria
    • World
    UK Court awards £20m Damages in favour of Nigeria against P&ID

    FG, States, LGs share ₦2.00 Trillion for month of July 2025

    SEC warns against investing with GVEST Global’s illegal schemes

    SEC warns against investing with GVEST Global’s illegal schemes

    Only 23% of Nigerians trust INEC- Report says

    APGA candidates win Anambra by-elections

    US deficit grows to US$291 billion in July – Reports

    US deficit grows to US$291 billion in July – Reports

    Onitsha River Port receives first container barge for 2025 season

    Onitsha River Port receives first container barge for 2025 season

    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

    WAEC releases 2025 WASSCE results, how to check yours

    President Buhari commissions the new US$100m Ultra-modern MMIA Terminal

    Festus Keyamo – Our Plans for the Murtala Mohammed International Airport Lagos

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Conoil Plc reports 88.8% drop in profit to N900 million in H1 2025

    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Outcome of Cadbury Nigeria Plc and Berger Paints Nigeria Plc Board meetings

    International Energy Insurance Plc calls an emergency Board meeting

    Wema Bank Plc surpasses recapitalisation target

    Wema Bank Plc surpasses recapitalisation target

    Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

    Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Learn Africa Plc (formerly Longman Nig.) posts N429.53mn profit, to pay 25kobo dividend

    Learn Africa Plc declares 35 kobo final dividend

    Resolutions passed at Presco’s Annual General Meeting

    Resolutions passed at Presco’s Annual General Meeting

    FCMB Group report N7.55bn Profit for the 2021 H1 Period, 22.10% decline YoY

    FCMB Group announces equity capital raise

    Resolutions passed at Jaiz Bank’s 13th Annual General Meeting

    Resolutions passed at Jaiz Bank’s 13th Annual General Meeting

    UPDC REIT declare N0.16 dividend for 2022 Financial Year

    UPDC REIT announces ₦0.22 interim dividend for H1 2025

    • Companies
    • Industry
    • Technology
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Beta Glass Plc Shareholders to be presented with a N1.04 dividend for 2020

    STANBIC IBTC ETF 30 announces ₦3.144 interim Dividend

    CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

    SIAML Pension ETF 40 announces ₦12.44 interim Dividend

    Cutix Plc founder sells additional 1.8 million shares of the company

    VFD Group Plc Employees and others sell millions of VFD Group shares

    Nigerian Exchange – Stock Market report for the week ended 7th July, 2023

    The Nigerian Exchange records impressive performance in H1 2025

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies
Investogist
  • News
    • All
    • Africa
    • Nigeria
    • World
    UK Court awards £20m Damages in favour of Nigeria against P&ID

    FG, States, LGs share ₦2.00 Trillion for month of July 2025

    SEC warns against investing with GVEST Global’s illegal schemes

    SEC warns against investing with GVEST Global’s illegal schemes

    Only 23% of Nigerians trust INEC- Report says

    APGA candidates win Anambra by-elections

    US deficit grows to US$291 billion in July – Reports

    US deficit grows to US$291 billion in July – Reports

    Onitsha River Port receives first container barge for 2025 season

    Onitsha River Port receives first container barge for 2025 season

    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

    WAEC releases 2025 WASSCE results, how to check yours

    President Buhari commissions the new US$100m Ultra-modern MMIA Terminal

    Festus Keyamo – Our Plans for the Murtala Mohammed International Airport Lagos

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Conoil Plc reports 88.8% drop in profit to N900 million in H1 2025

    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    • Policies
    • Budgets
    • Economic Data
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Outcome of Cadbury Nigeria Plc and Berger Paints Nigeria Plc Board meetings

    International Energy Insurance Plc calls an emergency Board meeting

    Wema Bank Plc surpasses recapitalisation target

    Wema Bank Plc surpasses recapitalisation target

    Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

    Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Learn Africa Plc (formerly Longman Nig.) posts N429.53mn profit, to pay 25kobo dividend

    Learn Africa Plc declares 35 kobo final dividend

    Resolutions passed at Presco’s Annual General Meeting

    Resolutions passed at Presco’s Annual General Meeting

    FCMB Group report N7.55bn Profit for the 2021 H1 Period, 22.10% decline YoY

    FCMB Group announces equity capital raise

    Resolutions passed at Jaiz Bank’s 13th Annual General Meeting

    Resolutions passed at Jaiz Bank’s 13th Annual General Meeting

    UPDC REIT declare N0.16 dividend for 2022 Financial Year

    UPDC REIT announces ₦0.22 interim dividend for H1 2025

    • Companies
    • Industry
    • Technology
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Beta Glass Plc Shareholders to be presented with a N1.04 dividend for 2020

    STANBIC IBTC ETF 30 announces ₦3.144 interim Dividend

    CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

    SIAML Pension ETF 40 announces ₦12.44 interim Dividend

    Cutix Plc founder sells additional 1.8 million shares of the company

    VFD Group Plc Employees and others sell millions of VFD Group shares

    Nigerian Exchange – Stock Market report for the week ended 7th July, 2023

    The Nigerian Exchange records impressive performance in H1 2025

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    How does family of 6 survive with income of N250,000 a month

    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home Business

Caverton Offshore posts ₦2.08 billion profit for H1 2025

Sunday, 3 August 2025, 10:00 am
in Business, Companies
0
Caverton Shareholders approve 10 kobo per share dividend and others at AGM
Share Share Share Share Send as Email

Caverton Offshore Support Group Plc (NGX: CAVERTON) has posted a profit after tax of ₦2.08 billion for the half-year period ended 30 June 2025.

Also read; Shareholders of Linkage Assurance Plc approve share bonus distribution

The company released its unaudited consolidated financial statements on Wednesday, showing a recovery from a loss of ₦3.70 billion despite a drop in revenue.

Caverton’s profitability can be attributed to a significant reduction in operating expenses, dropping over 100% from ₦15.93 billion in H1 2024 to ₦7.11 billion.

Statements of Profit and Loss

Caverton Offshore reported a 14.2% decline in revenue for the period, dropping from ₦18.79bn reported in H1 2024 to ₦16.12bn in H1 2025.

The drop in revenue stems from a decline in earnings from helicopter charter and helicopter/airplane contract, as it earned ₦3.50bn (H1 2024: ₦6.16bn) and ₦7.62bn (H1 2024: ₦10.54bn) respectively.

Operating expenses decreased from ₦15.93bn in H1 2024 to ₦7.11bn in H1 2025. Crew salaries almost halved from ₦6.29bn expensed in H1 2024 to ₦3.32bn in the year in review. The report shows that while Caverton spent ₦5.17bn on aviation fuel, spare parts in H1 2024, it spent nothing on these items in H1 2025.

The Company’s administrative expenses changed marginally from ₦4.94bn in H1 2024 to ₦4.88bn.

Net exchange difference added ₦6.91bn (H1 2024: ₦3.16bn) to the company in H1 2025, contributing to its eventual profit. Further review of the financial statements shows that while the company booked a realized exchange loss of ₦263.92mn (H1 2024: +₦2.67bn), it recorded an unrealized exchange gain of ₦7.18bn (H1 2024: ₦488.29mn).

Profit Before Tax for H1 2025 stood at ₦2.11bn, against a loss of ₦3.70bn in H1 2024. The company paid tax amounting to ₦31.80Mn (H1 2024: ₦0.00).

At the end of the period, Caverton Offshore posted a profit after tax of ₦2.08bn, against the loss of ₦3.70bn reported in H1 2024.

Earnings per share stood at ₦0.62.

Statements of financial position

Total assets as at 30 June, 2025, was ₦77.34bn (31 Dec. 2024: ₦76.16n). Of this, ₦25.48n was non-current assets while ₦51.86bn was current assets.

Total liabilities as at 30 June, 2025, was ₦129.85bn (31 Dec. 2024: ₦36.72bn). Of this value, ₦36.72bn was non-current liabilities, while ₦93.12bn was current liabilities.

Shareholders equity stood in negative at minus ₦52.50bn (31 Dec. 2024: minus ₦54.60bn). The companies retained income remained in the negative at minus ₦60.41bn on the books (31 Dec. 2024: minus ₦62.49bn)

Statements of cash flow

Caverton Offshore Support Group Plc generated a net cash of ₦10.12bn in the 6 months period, in H1 2024 ₦3.69bn was used for the same activity.

A net cash of ₦567.74mn was used in investing activities in the period under review, while a net cash of ₦8.33bn was used in financing activities.

Cash and cash equivalent at the end of the period was ₦1.66bn (H1 2024: ₦447.86mn).

About the Company

Caverton is one of Nigeria’s leading oil services companies providing solutions for a range of multinational companies across aviation and marine services. Caverton Marine, one of the fastest growing indigenous shipping companies commenced operations in 1999 while Caverton Helicopters a helicopter charter, sales and Maintenance Company was established in 2002. Both companies were consolidated to form Caverton Offshore Support Group on 2nd June 2008.

The group’s focus and primary business is to provide logistics and environmental support services to oil and gas fields with broader plans to support energy operations along the West African shelf as well as other ancillary support services.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

Related Posts:

  • Caverton Maintenance
    Caverton Offshore posts N5.16bn loss for 2022 Financial Year
  • IMG-20230519-WA0000
    Caverton posts N566.05mn profit for Q1 2023
  • Caverton Maintenance
    Caverton Offshore apologizes for discrepancies in H1…
  • Caverton Aircraft
    Caverton Offshore aircraft reported "missing" in…
Tags: Featured
Previous Post

OPEC+ agrees to increase oil production for September

Next Post

Beta Glass Plc reports 334% year-on-year growth in profit

Next Post
Beta Glass Plc reports 334% year-on-year growth in profit

Beta Glass Plc reports 334% year-on-year growth in profit

  • Trending
  • Comments
  • Latest
MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2025, qualification and payment dates

Wema Bank Plc surpasses recapitalisation target

Wema Bank Plc surpasses recapitalisation target

Outcome of Cadbury Nigeria Plc and Berger Paints Nigeria Plc Board meetings

International Energy Insurance Plc calls an emergency Board meeting

AIICO Board of Directors approve Dividend Payment and  2021 Financial Statements

GTCO Board approves interim dividend for H1 2025

Outcome of Cadbury Nigeria Plc and Berger Paints Nigeria Plc Board meetings

International Energy Insurance Plc calls an emergency Board meeting

Wema Bank Plc surpasses recapitalisation target

Wema Bank Plc surpasses recapitalisation target

Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2025, qualification and payment dates

Quick Links

News
Economy
Markets
Business
Opinion & Analysis

Newsletter Signup

Contact Investogist

info@investogist.com

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us

Copyright © 2025 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Business
    • Companies
    • Industry
    • Technology
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Travel & Tours
    • Arts & Entertainment
    • Nature
    • Places & People
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Sports
    • Football
  • Vacancies

Copyright © 2025 investogist.com, All Rights Reserved