Caverton Offshore Support Group has reported improved liquidity and a return to positive operating cash flow for 2025, reaching N580.1 million compared to a significant deficit the previous year. However, the company remains in a net loss position, with its bottom line heavily impacted by N18.64 billion in finance costs and a massive N17.42 billion write-off related to security deposits for leased aircraft.

While revenue fell 40 percent to N24.1 billion due to a contraction in the aviation segment, the company improved margins through a leaner cost base. Despite the narrowing of its pre-tax loss to N13.87 billion from N53.67 billion in 2024, the improvement is largely attributed to non-recurring gains from asset disposals and foreign exchange movements rather than a recovery in core operations. Furthermore, the company’s debt structure has shifted, with current borrowings nearly doubling to N53.45 billion, increasing short-term refinancing pressure.