Investogist
No Result
View All Result
Thursday, July 31, 2025
  • News
    • All
    • Africa
    • Nigeria
    • World
    FG approves 300% increase in electricity tariff

    NERC has no authority over state tariff – Enugu Electricity Regulator

    US Court clears Donald Trump to run for President

    Breaking: US and EU agree trade deal

    Federal Government commissions three “ultra-modern” oncology centers

    Federal Government commissions three “ultra-modern” oncology centers

    How to register for Nnamdi Azikiwe University’s 2025/2026 Post-UTME and Direct Entry Screening

    How to register for Nnamdi Azikiwe University’s 2025/2026 Post-UTME and Direct Entry Screening

    Nnamdi Azikiwe University issues notice to Postgraduate Graduands on 17th Convocation Ceremony

    Nnamdi Azikiwe University’s guidelines for 2025/2026 POST-UTME, Direct entry screening exercise

    FG lists 4 border points in Ukraine Nigerians can cross to safety

    FG denies JSS1 admission age rumors, confirms 10-year minimum

    FG approves 300% increase in electricity tariff

    Enugu State Electricity Regulator lacks power to reduce electricity tariff – NERC

    UK bans Nigerian students and others from bringing family

    UK stops issuing new Health and Care Worker visas to foreign workers

    Trump wins a resounding victory in first Republican primary in Iowa

    Trump secures U.S. – Japan strategic trade and investment agreement

    • 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
    FY 2020: UAC of Nigeria Plc posts 27.8% decline in profit after tax from continuing operations

    UAC of Nigeria grows revenue by 32.6% to N110.4 billion in H1 2025

    UBA Plc profit for H1 2021 grew by 36.35% to N60.58 billion

    UBA commences Rights Issue of 3.15 billion ordinary shares

    Approval given for acquisition of International Energy Insurance Plc

    UAC of Nigeria Plc to acquire Chivita|Hollandia (CHI Limited)

    Agro-Industrial giant Presco Plc reports N10.12bn profit in H1 2021

    Presco Plc declares ₦20.00 interim dividend for H1 2025

    Seplat Energy Plc announces US$0.03 interim dividend for Q 2024

    Seplat Energy Plc announces US4.6 cents interim dividend for H1 2025

    Dividend Stocks to watch on the Nigerian Exchange – The case for Africa Prudential Plc

    Africa Prudential Plc declares 10 kobo interim dividend for H1 2025

    Accept old series/lower denominations of US Dollars or be sanctioned – CBN Tells DMBs/Forex Dealers

    Zenith, Access, Wema and five other banks meet CBN recapitalisation requirements

    Transcorp’s Board of Directors gives a nod to Final Dividend Declaration

    Transcorp announces ₦4.06 billion interim dividend for H1 2025

    Board of United Capital Plc (UCAP) declare 70 Kobo dividend per share for 2020 financial year

    United Capital Plc proposes ₦0.30 interim dividend for H1 2025

    • Companies
    • Industry
    • Technology
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    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)

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

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    • 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
    FG approves 300% increase in electricity tariff

    NERC has no authority over state tariff – Enugu Electricity Regulator

    US Court clears Donald Trump to run for President

    Breaking: US and EU agree trade deal

    Federal Government commissions three “ultra-modern” oncology centers

    Federal Government commissions three “ultra-modern” oncology centers

    How to register for Nnamdi Azikiwe University’s 2025/2026 Post-UTME and Direct Entry Screening

    How to register for Nnamdi Azikiwe University’s 2025/2026 Post-UTME and Direct Entry Screening

    Nnamdi Azikiwe University issues notice to Postgraduate Graduands on 17th Convocation Ceremony

    Nnamdi Azikiwe University’s guidelines for 2025/2026 POST-UTME, Direct entry screening exercise

    FG lists 4 border points in Ukraine Nigerians can cross to safety

    FG denies JSS1 admission age rumors, confirms 10-year minimum

    FG approves 300% increase in electricity tariff

    Enugu State Electricity Regulator lacks power to reduce electricity tariff – NERC

    UK bans Nigerian students and others from bringing family

    UK stops issuing new Health and Care Worker visas to foreign workers

    Trump wins a resounding victory in first Republican primary in Iowa

    Trump secures U.S. – Japan strategic trade and investment agreement

    • 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
    FY 2020: UAC of Nigeria Plc posts 27.8% decline in profit after tax from continuing operations

    UAC of Nigeria grows revenue by 32.6% to N110.4 billion in H1 2025

    UBA Plc profit for H1 2021 grew by 36.35% to N60.58 billion

    UBA commences Rights Issue of 3.15 billion ordinary shares

    Approval given for acquisition of International Energy Insurance Plc

    UAC of Nigeria Plc to acquire Chivita|Hollandia (CHI Limited)

    Agro-Industrial giant Presco Plc reports N10.12bn profit in H1 2021

    Presco Plc declares ₦20.00 interim dividend for H1 2025

    Seplat Energy Plc announces US$0.03 interim dividend for Q 2024

    Seplat Energy Plc announces US4.6 cents interim dividend for H1 2025

    Dividend Stocks to watch on the Nigerian Exchange – The case for Africa Prudential Plc

    Africa Prudential Plc declares 10 kobo interim dividend for H1 2025

    Accept old series/lower denominations of US Dollars or be sanctioned – CBN Tells DMBs/Forex Dealers

    Zenith, Access, Wema and five other banks meet CBN recapitalisation requirements

    Transcorp’s Board of Directors gives a nod to Final Dividend Declaration

    Transcorp announces ₦4.06 billion interim dividend for H1 2025

    Board of United Capital Plc (UCAP) declare 70 Kobo dividend per share for 2020 financial year

    United Capital Plc proposes ₦0.30 interim dividend for H1 2025

    • Companies
    • Industry
    • Technology
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    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)

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

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    Bitcoin (BTC) rises above US$90,000 records a new all time high

    • 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 N5.16bn loss for 2022 Financial Year

Thursday, 11 May 2023, 12:40 am
in Business, Companies
0
We now maintain Benin Republic’s Presidential Air Fleet in Nigeria – Caverton
Share Share Share Share Send as Email

Caverton Offshore Support Group Plc (NGX: CAVERTON) has reported a loss after taxation of N5.16 billion for the 2022 financial year ended 31st December, 2022.

This will make it the second year in a row that Caverton has reported a loss for the full financial year, having reported a loss of N4.34bn for the 2021 financial year.

Also read; List of Dividends announced in 2023, qualification and payment dates

A review of the company’s financial statements over the last 5 years shows that the company has continued to suffer a downward slide in profitability.

It has gone from a N3.80bn profit in 2018 to N4.38bn in 2019, then to N1.18bn in 2020, and slide into loss in 2021, posting a loss of N4.34bn.

Analysis of Statement of Profit or Loss and Other Comprehensive Income

  • Revenue: Caverton earned an revenue of N29.22bn from its customers in 2022, 15.91% drop from the N34.75bn it earned in 2021. Caverton made most of its revenue in Nigeria; N28.86bn in Nigeria and N367.75mn from outside Nigeria. Of this revenue, Helicopter/Airplane contract brought in N25.34bn (2021: N33.59bn), while Helicopter Charter brought in N3.07bn (2021: N1.01bn). Following a N25.54bn cost of sales, Caverton posted a gross profit of N3.68bn, a 55.25% drop from the N8.23bn it posted in 2021.
  • Administrative Expenses: The company’s administrative expenses went up by 7.54% to N5.11bn from N4.76bn spent in 2021. Of the administrative expense, Caverton spent N1.30bn (2021: N1.70) on its employees.
  • Finance Costs: Caverton paid N3.22bn (2021: N1.93bn) interest on debts and borrowings, and also paid N2.04bn (2021: N3.91bn) interest on lease liabilities.
  • Loss before tax: Caverton reported a loss before tax of N5.26bn, 9.92% higher loss than the N5.84bn it reported in 2021.
  • Loss after tax: It reported a loss after tax of N5.16bn, 18.93% more than the N4.34bn loss it reported in 2021.

Analysis of Statement of Financial Position

  • Total Assets: The company’s assets declined by 6.70% to N74.45bn, from the N79.79bn it held as at 31st December, 2021. Trade and other receivables and property,, plant and equipment were the major components of the company’s asset with N24.00bn (31 Dec. 2021: N24.02bn) and N18.72bn (31 Dec. 2021: N26.41bn) respectively.
  • Total Liabilities: The totally liabilities remained almost the same, it held N62.49bn as at 31 Dec. 2021 and held N62.31bn as at 31 Dec. 2022. Trade ad other payables, current borrowings, and non-current borrowings accounted for a significant portion of the liabilities with N18.20bn, N17.34bn and N14.69bn respectively.
  • Shareholder’s fund: The shareholder’s fund dropped by 29.82% from N17.30bn to N12.14bn. The retained earnings, the major component of the Shareholder’s fund dropped by 57.92% from N8.85bn to N3.72bn.

Analysis of Statement of Cash Flow

  • Operating activities: Caverton generated N116.50mn from operations (N4.94bn was generated in the preceding period).
  • Investing activities: Net cash of N3.40bn (2021: N1.03bn) was generated from investing activities, as a result of the disposal of property, plant & equipment without an investment in same as was done in the preceding period.
  • Financing activities: N7.72bn was used in financing activities as the company spent N12.06bn repaying the principal portion of borrowings.

Going Concern: The directors confirmed in the report that nothing has come to their attention to indicate that the company will not remain a going concern for at least twelve months from the date of this financial statement.

About the company

Caverton Offshore Support Group Plc (the Company or the parent) is a limited liabilities company incorporated and domiciled in Nigeria. The
registered office is located at 1, Prince Kayode Akingbade Close, Off Muri Okunola Street, Victoria Island, Lagos, Nigeria.The Group is principally
engaged in the provision of offshore services to the oil and gas industry, harbour and general marine operations; and the provision of charter,
shuttle and maintenance services of helicopters and airplanes to third parties. Information on the structure and other related party
relationships of the Group.

Caverton has 3.35bn outstanding shares being held by 3,273 individuals and institutions.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

Related Posts:

  • IMG-20230202-WA0002
    2022 financial year: UAC of Nigeria posts N2.69 billion loss
  • Caverton Maintenance
    Caverton Offshore apologizes for discrepancies in H1…
  • NB Plc
    Nigerian Breweries posts ₦106.30 billion loss for…
  • MTN Nigeria
    MTN Nigeria posts ₦137.0 billon loss for 2023…
Previous Post

The NGX ASI Closed Negative By 0.75% as BUA Cement loses 8.02%

Next Post

FBI refuses to give Congress informant file alleging Biden took bribes as vice president

Next Post
Biden says the U.S would send military to defend Taiwan if China invades

FBI refuses to give Congress informant file alleging Biden took bribes as vice president

Please login to join discussion
  • Trending
  • Comments
  • Latest
MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2025, qualification and payment dates

UBA Plc profit for H1 2021 grew by 36.35% to N60.58 billion

UBA commences Rights Issue of 3.15 billion ordinary shares

Agro-Industrial giant Presco Plc reports N10.12bn profit in H1 2021

Presco Plc declares ₦20.00 interim dividend for H1 2025

Accept old series/lower denominations of US Dollars or be sanctioned – CBN Tells DMBs/Forex Dealers

Zenith, Access, Wema and five other banks meet CBN recapitalisation requirements

FY 2020: UAC of Nigeria Plc posts 27.8% decline in profit after tax from continuing operations

UAC of Nigeria grows revenue by 32.6% to N110.4 billion in H1 2025

FG approves 300% increase in electricity tariff

NERC has no authority over state tariff – Enugu Electricity Regulator

UBA Plc profit for H1 2021 grew by 36.35% to N60.58 billion

UBA commences Rights Issue of 3.15 billion ordinary shares

Approval given for acquisition of International Energy Insurance Plc

UAC of Nigeria Plc to acquire Chivita|Hollandia (CHI Limited)

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