Shareholders get 15k per share dividend

Caverton Offshore Support Group Plc (COSG), has declared a Profit After Tax (PAT) of N2.62billion for the 2017 financial year.The robust bottom-line for 2017 is a 328 per cent rise from the N612.28million recorded in 2016. Profit Before Tax (PBT) also increased by N2.81billion or 256 per cent from N1.10billion in 2016 to N3.91billion in 2017.

The indigenous offshore logistic services provider has consequently declared a dividend of 15kobo per ordinary share of 50kobo each for its shareholders.At the ninth Annual General Meeting, recently in Lagos, the management of Caverton said: “shrewd cost management” helped to achieve profit, as revenue only grew marginally by 6.4 per cent to N20.54 billion in 2017, compared to N19.31billion recorded in 2016.

Over the years, the group has positively impacted the socio economic development of the country through various stakeholders; client, employees and communities alike. Its global workforce has equally grown remarkably with just below 700 employees in West Africa. With its rapid expanding fleet of aircraft and vessels coupled with its acquisition of key offshore assets and strategic partners, the group is able to provide a diverse range of services to its clients ensuring objectives are completely fulfilled, offshore to land.

COSG also takes pride in putting safety and quality at the core of its business and has been rewarded for this by its growing customer base. In September 2014, Shell Petroleum Development Company (SPDC) awarded the company the Shell ‘Safety Conscious Award’ recognising its safety conscious effort.Chairm