Progressive Path Group Holdings Limited provided audited consolidated financial guidance for the year ended 31 March 2023. The group is expected to record a net loss attributable to owners of the company ranging from approximately HKD 18.8 million to HKD 24.8 million for the year ended 31 March 2023 as compared to a net profit attributable to owners of the Company of approximately HKD 12.1 million for the year ended 31 March 2022. The Board considers that such change from profit to loss is mainly attributable to the following reasons: the depreciation cost of property, plant and equipment substantially increased from approximately HKD 71.7 million for the year ended 31 March 2022 to approximately HKD 98.2 million for the Year, which was mainly due to the acquisition of motor vehicles and machinery; increase in finance costs during the Year, which was mainly due to the increase in the amount and interest rate of the interest-bearing liabilities; and increase in provision for loss allowance on trade receivable for the Year, which was mainly due to the increase in expected credit loss provision made under individual assessment for some customers working for projects on the third runway of Hong Kong International Airport.