Caverton Offshore Support Group Plc announced unaudited earnings results for the third quarter of 2015. For the quarter, the company reported results show revenue of NGN 17.8 billion which represents a 5% decrease over the same period a year ago. Earnings per share came in at 42 kobo.

The dip in net profit was due largely to reduction in ad-hoc revenue, increase in equipment lease cost and the effect of foreign exchange loss. Operating profit (excluding other operating income) of NGN 2.78 billion, down 35% against NGN 4.26 billion in September 2014. Profit before tax was NGN 2.25 billion against NGN 3.6 billion in September 2014.

Profit after tax was NGN 1.39 billion, down 26% compared a year ago.