Caverton reports N40.1 billion full-year revenue for 2024 as rising costs and exchange losses erode profits 

This figure marks a notable 25.61% increase from the previous year’s revenue of N31.9 billion, largely driven by flight contracts, which accounted for N20.3 billion of the total.

Despite the impressive revenue growth, the company reported a pre-tax loss of N53.6 billion, an increase from the previous year’s loss of N12.6 billion, primarily due to the high cost of sales, operating expenses, and substantial foreign exchange losses.

As of March 31, 2025, the company’s shares are trading at N2.45, reflecting a year-to-date performance of 5.60%. In 2024, Caverton recorded a year-to-date performance of 29.61% in the Nigerian stock market.