Caverton Group posts N4.3b profit
For the financial year ended December 31, 2018, Caverton Offshore Support Group Plc, a foremost indigenous offshore logistics...
Caverton posts 19% drop in revenue
Caverton Offshore Support Group PLC (COSG) has posted revenue of N14.45billion for the third quarter (Q3) of 2016. This represents a 19 per cent slump compared to earnings of the same period last year.
Caverton’s revenue rises by 33% to N24 billion
Net income however was impacted as a result of the weak Naira due to the devaluation. Commenting on the year end results, Caverton’s Chief Executive Officer, Bode Makanjuola said: “The year has been of a mixed fortune! whilst steady implementation of our strategic plans translated to strong top-line growth - with group revenue soaring 33per cent year-on-year to N24Billion-, an exchange translation loss of N2Billion resulting from the official devaluation of the Naira resulted in a drop in net income.