Caverton Records 19 Percent Growth In 2019 Second Quarter Revenue

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Chief Executive Officer, Mr. Bode Makanjuola, Caverton Offshore Support Group Plc.

Caverton Offshore Support Group Plc, has recorded a 19 percent increase in its revenue for the period ended June 30, 2019.  The result shows that revenue grew from N14.2 billion in 2018 to N16.9 billion in 2019.

The results show a Profit before tax of N2.6 billion, against N1.7 billion in same period in 2018.  In the same vein, direct operating costs also increased by 15 percent supporting the earnings per share which also increased by 78 percent when compared with same period in 2018.

Commenting on the recent events, COSG’s Chief Executive Officer, Mr. Bode Makanjuola stated that “As we move into the 3rd Quarter of 2019 our commitment is to continue to provide the quality of service our clients have become accustomed to, as well as positive returns for our shareholders”

COSG is one of Nigeria’s leading oil services companies providing solutions for a range of multinational companies across aviation and marine services. One of the fastest growing indigenous shipping companies commenced operations in 1999, while Caverton Helicopters Limited is a helicopter charter, sales and Maintenance Company established in 2002.

Both companies were consolidated to form Caverton Offshore Support Group on 2 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.

Caverton has a young and growing fleet of vessels and aircraft operating out of nine locations. The company has an impressive oil and gas client base w Shell, Total, ExxonMobil, NNPC, Aiteo, Aje

COSG is one of Nigeria’s leading oil services companies providing solutions for a range of multinational companies across aviation and marine services. Caverton Marine Limited, one of the fastest growing indigenous shipping companies commenced operations in 1999, while Caverton Helicopters Limited is a helicopter charter, sales and Maintenance Company established in 2002.

Both companies were consolidated to form Caverton Offshore Support Group on 2ndJune 2008. The Group’s focus and primary business is to provide logistics and environmental support services to oil and gas fields with broaders to support energy operations along the West African shelf as well as other ancillary support services.

Caverton has a young and growing fleet of vessels and aircraft operating out of nine locations. The company has an impressive oil and gas client base w Shell, Total, ExxonMobil, NNPC, Aiteo, Aje-Folawiyo, and Chevron, among others.

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