Photo courtesy of Punch Newspaper · Verified via News Stand NG
Source Attribution: Punch Newspaper
News Stand NG operates under ethical news aggregation guidelines. Source: Punch Newspaper. To read the unabridged investigative reporting and full gallery, visit the original publication.
The company’s revenue rose from N20.45bn recorded in the corresponding period of 2025, with its marine business emerging as a major contributor, accounting for almost a third of group revenue. He added that the company is also building 10 electric ferries for the Lagos State Government at its marine facilities, including its Naval Dockyard operation in Victoria Island.
Context & Background
✦While marine operations are gaining momentum, Caverton’s aviation business remains a major focus of its restructuring efforts.
Key Figures & Named Entities
30 September:Caverton Offshore Support Group Plc has recorded a marginal 1.4 per cent increase in revenue to N20.74bn in the nine months ended 30 September, 2026, as growth in its marine business helped offset the loss of revenue from a major helicopter contract that ended last year.2025:The company’s revenue rose from N20.45bn recorded in the corresponding period of 2025, with its marine business emerging as a major contributor, accounting for almost a third of group revenue.Tuesday:This was contained in the company’s nine month financial report made available to The PUNCH on Tuesday.
Outlook & Next Steps
Follow original publisher reporting for subsequent developments, official responses, and verified updates.
Key Takeaways
Verified Extract
✦The company’s revenue rose from N20.45bn recorded in the corresponding period of 2025, with its marine business emerging as a major contributor, accounting for almost a third of group revenue.
✦He added that the company is also building 10 electric ferries for the Lagos State Government at its marine facilities, including its Naval Dockyard operation in Victoria Island.
✦While marine operations are gaining momentum, Caverton’s aviation business remains a major focus of its restructuring efforts.
Key Facts:30 September: Caverton Offshore Support Group Plc has recorded a marginal 1.4 per cent increase in revenue to N20.74bn in the nine months ended 30 September, 2026, as growth in its marine business helped offset the loss of revenue from a major helicopter contract that ended last year.2025: The company’s revenue rose from N20.45bn recorded in the corresponding period of 2025, with its marine business emerging as a major contributor, accounting for almost a third of group revenue.Tuesday: This was contained in the company’s nine month financial report made available to The PUNCH on Tuesday.2025: However, the revenue improvement came against the backdrop of a higher loss after tax of N13.79bn, compared with N4.63bn in the corresponding period of 2025.
Editorial Excerpt
Caverton Offshore Support Group Plc's revenue grew by 1.4% to N20.74bn in nine months, as its marine business offset losses from a major helicopter contrac
Frequently Asked Questions About This Story
What is the latest development regarding Victoria Island?
The company’s revenue rose from N20.45bn recorded in the corresponding period of 2025, with its marine business emerging as a major contributor, accounting for almost a third of group revenue.
Who are the key organizations or public figures mentioned?
He added that the company is also building 10 electric ferries for the Lagos State Government at its marine facilities, including its Naval Dockyard operation in Victoria Island.
What timeline or key figures were confirmed?
Caverton Offshore Support Group Plc has recorded a marginal 1.4 per cent increase in revenue to N20.74bn in the nine months ended 30 September, 2026, as growth in its marine business helped offset the loss of revenue from a major helicopter contract that ended last year.
