Caverton Records Revenue of N6.09bn in Q1
Chinedu Eze
Caverton Offshore Support Group Plc has announced its unaudited results for the first quarter ended 31 March 2026. The Group recorded revenue of ₦6.09 billion, a 32.2% year-on-year decline from ₦8.98 billion, driven by reduced activity in the aviation contract and helicopter charter segments.
Even so, profitability quality improved: gross margin rose to 63% and Earnings Before Interest, Taxes, Depreciation, and Amortization.
(EBITDA) margin to 32%, as cost of sales fell 36% on disciplined cost management. The Group reported a net loss before tax of ₦4.95 billion for the quarter.
