Caverton Offshore Support Group Plc recorded a 41 per cent increase in revenue in the second quarter of 2026, while its quarterly loss narrowed by N1.2bn, according to its half-year results for the six months ended June 30, 2026.
The Group’s revenue rose to N8.6bn in the second quarter from N6.1bn in the first quarter. Its quarterly loss also narrowed to N3.7bn from N5.0bn in the first quarter, representing an improvement of about N1.2bn quarter-on-quarter.
For the six-month period, Caverton recorded revenue of N14.7bn and a loss of N8.7bn. Net finance costs stood at N8.4bn during the period, remaining the principal pressure on the Group’s bottom line.
The company said in a statement that its debt restructuring programme remained central to its recovery plan. Operating profit before administrative costs reached N7.3bn, representing a margin of about 50 per cent of revenue.
The Group attributed the performance to cost management measures. Caverton Marine was a key driver of the business during the period. Through its relationship with Stena Bulk, the Group participates in three Suezmax tankers trading internationally, providing foreign-currency revenue.
