Caverton Offshore Support Group Plc has released its audited financial report for the year ended 31st December 2024, revealing a substantial revenue of N40.1 billion.
This figure marks a notable 25.61% increase from the previous year’s revenue of N31.9 billion, largely driven by flight contracts, which accounted for N20.3 billion of the total.
Despite the impressive revenue growth, the company reported a pre-tax loss of N53.6 billion, an increase from the previous year’s loss of N12.6 billion, primarily due to the high cost of sales, operating expenses, and substantial foreign exchange losses.