Caverton Offshore Support Group PLC (COSG), the leading provider of marine, aviation and logistics services to local and international oil and gas companies in Nigeria has announced its unaudited 2018 Half year results. The results indicate revenue of N14.2billion and Profit after tax of N962.m which represent 40.6% and 61.9% increases over the results of same period in 2017.
Consequently, the earnings per share increased to 29 kobo from 18 kobo reported same period last year.
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 2ndJune 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. Caverton has a young and growing fleet of vessels and aircrafts operating out of nine locations. The company has an impressive oil and gas client base which include Shell, Total, NNPC, Aje-Folawiyo, and Chevron, among others.