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Nairametrics
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Caverton Offshore reports 47% drop in earnings, propose 10 kobo dividends

Nairametrics by Nairametrics
March 27, 2015
in Uncategorized
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Revenue

  • Caverton Offshore Plc reported revenues of N24.9billion a 25% increase from the N18.6billion reported a year earlier.
  • Gross profit also rose 47% to N10.9billion compared to the N7.4billion reported a year earlier.

Profitability

  • Pre-tax profits for the year was N2.7billion representing a 14% drop compared to the N3.1billion compared a year earlier.
  • Earnings before interest and taxes dropped 8% to N4billion compared to N4.4billion reported a year earlier.
  • Profit after tax dropped 48% to N979million compared to the N1.8billiion reported a year earlier. The drop in profits was mostly due to a 27% rise in indirect operating expenses to N7.2billion.

Shareholders

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  • Earnings per share for the period was 29kobo compared to the 55 kobo reported a year earlier, representing a 47% drop.
  • Proposed dividend for the period was 10kobo with the closure of the register to be announced.

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Tags: caverton groupNigerian Company Results
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Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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