The Production Directorate of Shell Petroleum Development Company of Nigeria has awarded Caverton Helicopters, a subsidiary of Caverton Offshore Support Group Plc, the Safety Conscious Contractor of the Year Award. The award according to a statement, was in commemorating 75 million Lost Time Injury (LTI) free man-hour. Caverton was nominated and won the award in the Medium and High Risk category.

The justification for the award according to Shell, was that Caverton Helicopters developed safety programmes to improve staff safety culture. Raising the bar engagement sessions, Safety Survey and ‘Aim for Zero’ Campaign and actively ready to learn from previous incidents. The award ceremony, which took place at Shell Port Harcourt was received by the Base Managing Pilot on behalf of Caverton Helicopters. Caverton Offshore Support Group Plc, had recorded a 21 per cent growth in revenue during the half year ended 2014.

The result of its financials filed with the Nigerian Stock Exchange (NSE) showed the company’s revenue grew by 21 per cent, from N10.317 billion in 2013 to N12.505 billion in 2014, while total assets rose by 10 per cent to N41.917 billion in 2014, from N38.025 billion the previous year. However, the company’s net earnings fell by 12 per cent from N1.793 billion in 2013 to N1.585 billion recorded during the period under review.

The admission of Caverton Offshore Support Group Plc to the Exchange had swelled the market capitalisation by N3.8 billion. Chief Executive Officer of the NSE, Oscar Onyema, said the listing was another manifestation that the Nigeria bourse was on the right path of becoming the African exchange of choice. Onyema noted that Caverton has taking a hold step by adding N31.829 billion to the market capitalisation of the Exchange. He said that the Exchange will continue to introduce more products to meet the needs of wide range of local and international investors, adding that the management is determined to ensure sound corporate governance among the marker players.