Income Statement Progressive Path Group Holdings Limited

Stocks

1581

KYG725391109

Construction & Engineering

Market Closed - Hong Kong S.E. 01:38:31 24/09/2026 pm IST			5-day change	1st Jan Change
0.3000 ^HKD	-9.09%		-13.04%	+42.18%

29/06	Progressive Path Group Holdings Limited Reports Earnings Results for the Full Year Ended March 31, 2026	CI
19/06	Progressive Path Group Flags Drop in Fiscal Profit	MT

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Published financial data: PROGRESSIVE PATH GROUP HOLDINGS LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022 (HKD)	2023 (HKD)	2024 (HKD)	2025 (HKD)	2026 (HKD)
Revenues	52Cr	51Cr	73Cr	91Cr	84Cr
Total Revenues	52Cr	51Cr	73Cr	91Cr	84Cr
Cost of Goods Sold, Total	48Cr	51Cr	67Cr	85Cr	81Cr
Gross Profit	3.36Cr	36.78L	5.78Cr	6.34Cr	3.16Cr
Selling General & Admin Expenses, Total	2.36Cr	2.39Cr	2.22Cr	2.53Cr	2.27Cr
Provision for Bad Debts	-16L	99.43L	15.27L	43.68L	-17.03L
Other Operating Expenses, Total	2.2Cr	3.38Cr	2.38Cr	2.97Cr	2.1Cr
Operating Income	1.17Cr	-3.01Cr	3.4Cr	3.37Cr	1.06Cr
Interest Expense, Total	-64.77L	-1.06Cr	-1.47Cr	-1.08Cr	-61.85L
Interest And Investment Income	63T	5L	4L	5L	10.98L
Net Interest Expenses	-64.14L	-1Cr	-1.43Cr	-1.02Cr	-50.87L
Other Non Operating Income (Expenses)	28.87L	73.17L	28.49L	33.61L	20.63L
EBT, Excl. Unusual Items	81.31L	-3.29Cr	2.26Cr	2.69Cr	75.31L
Gain (Loss) On Sale Of Assets	33L	6L	5L	19L	1.5Cr
Insurance Settlements	12.87L	2L	8L	7L	4L
Other Unusual Items	-	1.03Cr	-	-	-
EBT, Incl. Unusual Items	1.27Cr	-2.18Cr	2.39Cr	2.95Cr	2.3Cr
Income Tax Expense	6L	2L	16.69L	-46.32L	26.35L
Earnings From Continuing Operations	1.21Cr	-2.2Cr	2.22Cr	3.41Cr	2.04Cr
Net Income to Company	1.21Cr	-2.2Cr	2.22Cr	3.41Cr	2.04Cr
Minority Interest	-	-	1T	-	-
Net Income - (IS)	1.21Cr	-2.2Cr	2.22Cr	3.41Cr	2.04Cr
Net Income to Common Incl Extra Items	1.21Cr	-2.2Cr	2.22Cr	3.41Cr	2.04Cr
Net Income to Common Excl. Extra Items	1.21Cr	-2.2Cr	2.22Cr	3.41Cr	2.04Cr
Per Share Items
Net EPS - Basic	0.06	-0.07	0.05	0.08	0.05
Basic EPS - Continuing Operations	0.06	-0.07	0.05	0.08	0.05
Basic Weighted Average Shares Outstanding	21Cr	33Cr	42Cr	42Cr	42Cr
Net EPS - Diluted	0.06	-0.07	0.05	0.08	0.05
Diluted EPS - Continuing Operations	0.06	-0.07	0.05	0.08	0.05
Diluted Weighted Average Shares Outstanding	21Cr	33Cr	42Cr	42Cr	42Cr
Normalized Basic EPS	0.02	-0.06	0.03	0.04	0.01
Normalized Diluted EPS	0.02	-0.06	0.03	0.04	0.01
Supplemental Items
EBITDA	4.06Cr	2.02Cr	7.05Cr	6.7Cr	5.5Cr
EBITA	1.17Cr	-3.01Cr	3.4Cr	3.37Cr	1.06Cr
EBIT	1.17Cr	-3.01Cr	3.4Cr	3.37Cr	1.06Cr
EBITDAR	11Cr	10Cr	15Cr	-	6.26Cr
Effective Tax Rate - (Ratio)	4.62	-0.81	6.99	-15.72	11.45
Current Domestic Taxes	1L	2L	3L	-	-
Total Current Taxes	1L	2L	3L	-	-
Total Deferred Taxes	4L	-21T	13.54L	-46.32L	26.35L
Normalized Net Income	50.82L	-2.05Cr	1.41Cr	1.68Cr	47.07L
Interest on Long-Term Debt	47.9L	68.95L	88.37L	61.84L	28.2L
Supplemental Operating Expense Items
General and Administrative Expenses	2.36Cr	2.39Cr	2.22Cr	2.53Cr	2.27Cr
Net Rental Expense, Total	7.18Cr	8.27Cr	7.48Cr	-	75.75L
Imputed Operating Lease Interest Expense	2.51Cr	3.54Cr	4.39Cr	-	31.98L
Imputed Operating Lease Depreciation	4.67Cr	4.73Cr	3.09Cr	-	43.77L

Fiscal Period: March	2022 (HKD)	2023 (HKD)	2024 (HKD)	2025 (HKD)	2026 (HKD)
Assets
Cash And Equivalents	1.73Cr	2.73Cr	2.85Cr	3.04Cr	3.6Cr
Short Term Investments	1.01Cr	83.11L	1.13Cr	2.3Cr	2.37Cr
Total Cash And Short Term Investments	2.73Cr	3.56Cr	3.98Cr	5.34Cr	5.97Cr
Accounts Receivable, Total	21Cr	23Cr	30Cr	35Cr	38Cr
Other Receivables	8T	-	16T	6L	5L
Total Receivables	21Cr	23Cr	30Cr	35Cr	38Cr
Inventory	-	-	-	-	-
Prepaid Expenses	1Cr	1.28Cr	1.63Cr	68.93L	1.02Cr
Other Current Assets, Total	35.12L	49.48L	60.71L	2L	80.8L
Total Current Assets	25Cr	28Cr	36Cr	41Cr	46Cr
Gross Property Plant And Equipment	56Cr	72Cr	77Cr	77Cr	78Cr
Accumulated Depreciation	-35Cr	-44Cr	-53Cr	-59Cr	-63Cr
Net Property Plant And Equipment	21Cr	28Cr	23Cr	18Cr	15Cr
Other Long-Term Assets, Total	43.95L	27.19L	19.96L	28.33L	-
Total Assets	47Cr	57Cr	60Cr	59Cr	61Cr
Liabilities
Accounts Payable, Total	3.79Cr	4.98Cr	8.48Cr	7.36Cr	7.77Cr
Accrued Expenses, Total	1.96Cr	1.95Cr	2.31Cr	1.4Cr	2.6Cr
Short-term Borrowings	7.88Cr	7.76Cr	7.48Cr	5.93Cr	6.98Cr
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	4.14Cr	6.87Cr	5.88Cr	3.67Cr	2.12Cr
Current Income Taxes Payable	3T	56T	2L	-	-
Unearned Revenue Current, Total	-	-	-	-	-
Other Current Liabilities	1.93Cr	4.24Cr	3.66Cr	9.08Cr	7.37Cr
Total Current Liabilities	20Cr	26Cr	28Cr	27Cr	27Cr
Long-Term Debt	-	-	-	-	-
Long-Term Leases	6.19Cr	6.67Cr	5.31Cr	2.11Cr	1.89Cr
Deferred Tax Liability Non Current	79.87L	79.66L	93.2L	46.88L	73.23L
Total Liabilities	27Cr	33Cr	34Cr	30Cr	29Cr
Common Stock, Total	1.04Cr	2.08Cr	2.08Cr	2.08Cr	2.08Cr
Additional Paid In Capital	11Cr	15Cr	15Cr	15Cr	15Cr
Retained Earnings	8.47Cr	6.27Cr	8.49Cr	12Cr	14Cr
Comprehensive Income and Other	-	-	-	-	-
Total Common Equity	20Cr	23Cr	26Cr	29Cr	31Cr
Minority Interest	-16T	-16T	-17T	-	-
Total Equity	20Cr	23Cr	26Cr	29Cr	31Cr
Total Liabilities And Equity	47Cr	57Cr	60Cr	59Cr	61Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	21Cr	42Cr	42Cr	42Cr	42Cr
ECS Total Common Shares Outstanding	21Cr	42Cr	42Cr	42Cr	42Cr
Book Value / Share	0.98	0.56	0.62	0.7	0.75
Tangible Book Value	20Cr	23Cr	26Cr	29Cr	31Cr
Tangible Book Value Per Share	0.98	0.56	0.62	0.7	0.75
Total Debt	18Cr	21Cr	19Cr	12Cr	11Cr
Net Debt	15Cr	18Cr	15Cr	6.36Cr	5.02Cr
Debt Equivalent Oper. Leases	57Cr	66Cr	60Cr	-	6.06Cr
Minority Interest, Total (Incl. Fin. Div)	-16T	-16T	-17T	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Finished Goods, Total	-	-	-	-	-
Land - (BS)	96.86L	96.86L	96.86L	96.86L	96.86L
Buildings, Total	-	-	-	-	-
Machinery, Total	37Cr	44Cr	46Cr	56Cr	63Cr
Full Time Employees	508	70	69	64	58
Accumulated Allowance for Doubtful Accounts (Supple)	2.31Cr	3.19Cr	3.34Cr	3.31Cr	3.11Cr
Order Backlog	12Cr	18Cr	14Cr	65Cr	87Cr

Fiscal Period: March	2022 (HKD)	2023 (HKD)	2024 (HKD)	2025 (HKD)	2026 (HKD)
Net Income	1.21Cr	-2.2Cr	2.22Cr	3.41Cr	2.04Cr
Depreciation & Amortization - CF	7.17Cr	9.82Cr	10Cr	9.8Cr	8.24Cr
Depreciation & Amortization, Total	7.17Cr	9.82Cr	10Cr	9.8Cr	8.24Cr
(Gain) Loss From Sale Of Asset	-33L	-6L	-5L	-19L	-1.5Cr
Provision and Write-off of Bad Debts	-16L	99.43L	15.27L	43.68L	-17.03L
Other Operating Activities, Total	55.78L	3L	1.55Cr	56.75L	69.65L
Change In Accounts Receivable	-96.54L	-2.97Cr	-7.07Cr	-5.28Cr	-2.69Cr
Change In Inventories	-	-	-	-	-
Change In Accounts Payable	9L	2.14Cr	3.37Cr	2.1Cr	1.48Cr
Change in Unearned Revenues	-	-	-	-	-
Change in Other Net Operating Assets	-45T	15.99L	-17.14L	-9L	-37.6L
Cash from Operations	7.57Cr	7.92Cr	10Cr	11Cr	7.71Cr
Capital Expenditure	-4.28Cr	-4.12Cr	-1.39Cr	-3.18Cr	-4.26Cr
Sale of Property, Plant, and Equipment	70.4L	10.95L	6L	23.23L	1.63Cr
Other Investing Activities, Total	-54.63L	-40.57L	-47.06L	34.47L	-69.05L
Cash from Investing	-4.13Cr	-4.41Cr	-1.8Cr	-2.6Cr	-3.32Cr
Short Term Debt Issued, Total	12Cr	19Cr	24Cr	27Cr	25Cr
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	12Cr	19Cr	24Cr	27Cr	25Cr
Short Term Debt Repaid, Total	-8.52Cr	-19Cr	-24Cr	-28Cr	-24Cr
Long-Term Debt Repaid, Total	-6.7Cr	-7.58Cr	-6.59Cr	-6.15Cr	-3.6Cr
Total Debt Repaid	-15Cr	-26Cr	-31Cr	-34Cr	-28Cr
Issuance of Common Stock	-	5.4Cr	-	-	-
Other Financing Activities, Total	-51.97L	-19.99L	-1.44Cr	-26.36L	-55.04L
Cash from Financing	-3.39Cr	-2.5Cr	-8.32Cr	-7.96Cr	-3.84Cr
Net Change in Cash	5L	1.01Cr	11.52L	19.37L	55.95L
Supplemental Items
Cash Interest Paid	64.77L	1.06Cr	1.47Cr	1.08Cr	61.85L
Cash Income Tax Paid (Refund)	2L	1L	2L	4L	79T
Levered Free Cash Flow	1.99Cr	4.26Cr	5.97Cr	7.21Cr	93.59L
Unlevered Free Cash Flow	2.39Cr	4.92Cr	6.88Cr	7.89Cr	1.32Cr
Change In Net Working Capital	1.22Cr	-1.1Cr	4.08Cr	84.44L	3.32Cr
Net Debt Issued / Repaid	-2.88Cr	-7.7Cr	-6.88Cr	-7.7Cr	-3.29Cr

Fiscal Period: March	2022 (HKD)	2023 (HKD)	2024 (HKD)	2025 (HKD)	2026 (HKD)
Profitability
Return on Assets	1.69	-3.63	3.65	3.55	1.1
Return on Total Capital	2.1	-4.52	4.77	4.96	1.58
Return On Equity %	6.13	-10.02	9.05	12.46	6.78
Return on Common Equity	6.12	-10.01	9.05	12.46	6.78
Margin Analysis
Gross Profit Margin %	6.52	0.72	7.93	6.94	3.75
SG&A Margin	4.57	4.67	3.05	2.77	2.7
EBITDA Margin %	7.87	3.96	9.67	7.33	6.54
EBITA Margin %	2.26	-5.9	4.67	3.69	1.25
EBIT Margin %	2.26	-5.9	4.67	3.69	1.25
Income From Continuing Operations Margin %	2.35	-4.3	3.05	3.73	2.42
Net Income Margin %	2.35	-4.3	3.05	3.73	2.42
Net Avail. For Common Margin %	2.35	-4.3	3.05	3.73	2.42
Normalized Net Income Margin	0.98	-4.02	1.94	1.84	0.56
Levered Free Cash Flow Margin	3.85	8.33	8.19	7.89	1.11
Unlevered Free Cash Flow Margin	4.64	9.62	9.45	8.63	1.57
Asset Turnover
Asset Turnover	1.2	0.98	1.25	1.54	1.41
Fixed Assets Turnover	2.83	2.06	2.84	4.44	5.11
Receivables Turnover (Average Receivables)	2.51	2.31	2.75	2.82	2.32
Short Term Liquidity
Current Ratio	1.28	1.1	1.3	1.49	1.7
Quick Ratio	1.21	1.03	1.22	1.47	1.63
Operating Cash Flow to Current Liabilities	0.38	0.31	0.37	0.39	0.29
Days Sales Outstanding (Average Receivables)	145.31	157.77	133.29	129.45	157.31
Average Days Payable Outstanding	28.74	31.56	36.73	33.99	34.09
Long Term Solvency
Total Debt/Equity	89.25	90.88	72.74	40.25	35.34
Total Debt / Total Capital	47.16	47.61	42.11	28.7	26.11
LT Debt/Equity	30.34	28.45	20.67	7.24	6.09
Long-Term Debt / Total Capital	16.03	14.9	11.97	5.16	4.5
Total Liabilities / Total Assets	56.67	58.67	57.04	50.79	48.65
EBIT / Interest Expense	1.8	-2.85	2.32	3.14	1.71
EBITDA / Interest Expense	12.86	6.44	9.3	12.25	15.03
(EBITDA - Capex) / Interest Expense	6.25	2.54	8.35	9.3	8.15
Total Debt / EBITDA	2.19	3.13	1.37	0.89	1.18
Net Debt / EBITDA	1.86	2.61	1.08	0.48	0.54
Total Debt / (EBITDA - Capex)	4.5	7.93	1.53	1.17	2.18
Net Debt / (EBITDA - Capex)	3.82	6.6	1.2	0.64	1
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	18.45	-0.96	42.56	25.43	-7.93
Gross Profit, 1 Yr. Growth %	53.48	-89.07	1.47T	9.8	-50.25
EBITDA, 1 Yr. Growth %	113.09	-50.18	248.48	-4.97	-17.89
EBITA, 1 Yr. Growth %	-229.39	-358.59	-212.84	-0.82	-68.72
EBIT, 1 Yr. Growth %	-229.39	-358.59	-212.84	-0.82	-68.72
Earnings From Cont. Operations, 1 Yr. Growth %	224.53	-281.02	-201.2	53.44	-40.21
Net Income, 1 Yr. Growth %	224.53	-281.02	-201.21	53.43	-40.21
Normalized Net Income, 1 Yr. Growth %	-161.74	-504.37	-168.74	18.96	-71.99
Diluted EPS Before Extra, 1 Yr. Growth %	224.54	-215.57	-179.26	53.44	-40.21
Accounts Receivable, 1 Yr. Growth %	5.63	9.35	29.96	16.14	8.21
Net Property, Plant and Equip., 1 Yr. Growth %	43.53	30.5	-16.77	-23.45	-15.78
Total Assets, 1 Yr. Growth %	20.87	20.39	5.32	-1.09	2.55
Tangible Book Value, 1 Yr. Growth %	6.32	14.83	9.48	13.28	7.01
Common Equity, 1 Yr. Growth %	6.32	14.83	9.48	13.28	7.01
Cash From Operations, 1 Yr. Growth %	50.41	4.64	30.06	5.06	-28.25
Capital Expenditures, 1 Yr. Growth %	28.77	-3.91	-66.3	128.91	34.06
Levered Free Cash Flow, 1 Yr. Growth %	32.15	114.22	40.11	6.05	-85.54
Unlevered Free Cash Flow, 1 Yr. Growth %	30.26	105.57	39.92	2.17	-81.49
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	28.58	8.31	18.83	33.72	7.46
Gross Profit, 2 Yr. CAGR %	58.83	-59.03	31.05	315.3	-26.09
EBITDA, 2 Yr. CAGR %	115.29	3.04	31.76	81.98	-11.66
EBITA, 2 Yr. CAGR %	-3.85	82.92	70.82	5.79	-44.3
EBIT, 2 Yr. CAGR %	-3.85	82.92	70.82	5.79	-44.3
Earnings From Cont. Operations, 2 Yr. CAGR %	-11.87	142.37	35.35	24.61	-4.22
Net Income, 2 Yr. CAGR %	-11.81	142.37	35.35	24.61	-4.22
Normalized Net Income, 2 Yr. CAGR %	-28.42	58.01	66.73	-9.57	-42.28
Diluted EPS Before Extra, 2 Yr. CAGR %	-11.81	93.67	-4.29	10.28	-4.22
Accounts Receivable, 2 Yr. CAGR %	7.15	7.47	19.21	22.86	12.11
Net Property, Plant and Equip., 2 Yr. CAGR %	24.33	36.86	4.21	-20.18	-19.7
Total Assets, 2 Yr. CAGR %	13.95	20.63	12.6	2.06	0.71
Tangible Book Value, 2 Yr. CAGR %	4.13	10.49	12.13	11.36	10.1
Common Equity, 2 Yr. CAGR %	4.13	10.49	12.13	11.36	10.1
Cash From Operations, 2 Yr. CAGR %	3.59	25.46	16.28	16.9	-13.18
Capital Expenditures, 2 Yr. CAGR %	-0.54	11.23	-43.1	-12.17	75.18
Levered Free Cash Flow, 2 Yr. CAGR %	-9.5	68.26	73.25	30.17	-62.91
Unlevered Free Cash Flow, 2 Yr. CAGR %	-7.91	63.64	69.6	26.63	-58.61
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	32.59	17.87	18.7	20.99	18.08
Gross Profit, 3 Yr. CAGR %	20.31	-34.91	38.14	23.55	104.73
EBITDA, 3 Yr. CAGR %	116.99	32.18	54.66	18.16	39.58
EBITA, 3 Yr. CAGR %	-37.27	33.72	55.71	42.51	-29.52
EBIT, 3 Yr. CAGR %	-37.27	33.72	55.71	42.51	-29.52
Earnings From Cont. Operations, 3 Yr. CAGR %	-35.64	12.03	81.16	41.13	-2.45
Net Income, 3 Yr. CAGR %	-35.64	12.08	81.16	41.13	-2.45
Normalized Net Income, 3 Yr. CAGR %	-45.78	27.48	19.73	48.98	-38.82
Diluted EPS Before Extra, 3 Yr. CAGR %	-35.64	-3.49	43.79	12.01	-10.08
Accounts Receivable, 3 Yr. CAGR %	6.27	7.88	14.5	18.18	17.77
Net Property, Plant and Equip., 3 Yr. CAGR %	26	26.36	15.95	-5.97	-18.74
Total Assets, 3 Yr. CAGR %	10.27	16.06	15.29	7.84	2.22
Tangible Book Value, 3 Yr. CAGR %	0.04	7.58	10.16	12.51	9.89
Common Equity, 3 Yr. CAGR %	0.04	7.58	10.16	12.51	9.89
Cash From Operations, 3 Yr. CAGR %	18.82	3.94	26.7	12.41	-0.66
Capital Expenditures, 3 Yr. CAGR %	-3.38	-1.68	-25.29	-9.5	1.13
Levered Free Cash Flow, 3 Yr. CAGR %	-0.75	20.61	58.3	53.68	-39.65
Unlevered Free Cash Flow, 3 Yr. CAGR %	0.42	20.36	55.32	48.83	-35.45
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	1.27	6	26.9	23.97	14.07
Gross Profit, 5 Yr. CAGR %	-13.06	-36.85	24.5	36.61	7.57
EBITDA, 5 Yr. CAGR %	-19.22	-24.06	77.74	50.21	23.62
EBITA, 5 Yr. CAGR %	-23.57	36.69	-6.35	21.76	3.22
EBIT, 5 Yr. CAGR %	-23.57	36.69	-6.35	21.76	3.22
Earnings From Cont. Operations, 5 Yr. CAGR %	-12.7	30.9	-13.35	16.9	40.39
Net Income, 5 Yr. CAGR %	-12.7	30.9	-13.35	16.93	40.39
Normalized Net Income, 5 Yr. CAGR %	-28.05	46.17	-15.02	11.12	-10.57
Diluted EPS Before Extra, 5 Yr. CAGR %	-15.37	19.67	-24.57	1.8	22.22
Accounts Receivable, 5 Yr. CAGR %	-2.3	0.11	11.27	13.64	13.54
Net Property, Plant and Equip., 5 Yr. CAGR %	7.45	20.06	16.79	5.15	0.1
Total Assets, 5 Yr. CAGR %	-1.11	5.12	11.2	10.24	9.22
Tangible Book Value, 5 Yr. CAGR %	-3.72	-1.47	4.71	9.08	10.13
Common Equity, 5 Yr. CAGR %	-3.72	-1.47	4.71	9.08	10.13
Cash From Operations, 5 Yr. CAGR %	3.72	24.95	17.8	8.8	8.92
Capital Expenditures, 5 Yr. CAGR %	12.45	17.65	-21.82	-6.02	5.05
Levered Free Cash Flow, 5 Yr. CAGR %	5.4	47.15	24.02	24.34	-9.05
Unlevered Free Cash Flow, 5 Yr. CAGR %	3.9	36.83	23.84	22.83	-6.36