Caverton reduces Q3 pre-tax loss to N4.6bn

…stock price up 117.67% YtD

Caverton Offshore Support Group Plc (Caverton) has released its unaudited results for the third quarter (Q3) ended September 30, 2025. In the result at the Nigerian Exchange Limited (NGX), the company reported Loss Before Tax (LBT) of N4.6 billion as against LBT of N41.6 billion in Q3 2024.

Caverton is Nigeria’s leading provider of marine, aviation, and logistics services to local and international oil and gas companies. In the review period, the company’s revenue decreased to N20.5 billion, from a high of N34.2 billion in Q3 2024.

Caverton reported Q3’25 gross profit of N10.9 billion as against N9.4 billion in Q3’2024. Operating profit excluding finance cost decreased in Q3’25 to N9.8 billion as against operating loss of N34.9 billion in Q3’2024.

The company’s negative Earnings Per Share (EPS) decreased to N1.38 in Q3’25 from a high of N12.42 in Q3’2024. This year, the stock price has risen by 117.67 percent according to trading data as at November 3 when the stock closed at N5.05 per share.

Commenting on the results, Olabode Makanjuola, Group CEO, Caverton Offshore Support Group Plc noted that the Q32025 performance underscores the strength of Caverton’s business fundamentals and the positive trajectory of its turnaround strategy.

“While we acknowledge the current loss position, the significant reduction in pre-tax losses and strong operating profit demonstrate the effectiveness of our strategic initiatives to stabilise operations, enhance cost efficiency, and strengthen earnings quality. Our focus remains on repositioning Caverton for long-term, sustainable growth,” said Makanjuola.

Despite industry headwinds, Caverton remains confident in its long-term prospects. The company believes that its proactive management strategies, new business initiatives, and strengthened governance framework will enhance business continuity, improve margins, and support the return to profitability in the near term.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.