Helicopter Company, Caverton Offshore Group reported a revenue N8.1 billion in the second quarter ending June 2020 compared to N8.5 billion same period in 2019.
- This is despite the travel shutdown imposed in the nation’s capital, Abuja. However, oil-rich towns in the Niger Delta avoided the shutdowns.
- Caverton Group caters mainly to businesses in the oil and gas industry.
- Caverton Helicopter/Airplane Contract represents 93% of the group revenues and is its main business segment.
- The division reported a revenue of N8 billion in the quarter, a N200 million increase from the N7.8 billion recorded the same period in 2019.
- The company’s earnings per share for the quarter was 14 kobo compared to 27 kobo same quarter last year.
- The company’s revenues were impacted negatively by higher finance expenses. Finance cost was N1.4 billion compared to N621 million same period in 2019.
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