Progressive Path Group Holdings Limited provided preliminary unaudited consolidated group earnings guidance for the six months ended 30 September 2022. For the period, the group expects to record a net profit attributable to owners of the Company not more than HKD 1.5 million as compared to a net profit attributable to owners of the Company of approximately HKD 5.6 million for the six months ended 30 September 2021. The Board considers that the aforesaid decrease in net profit is mainly attributable to the following reasons: decrease in revenue from construction works as peak period of Anderson Road Quarry Site project was over and the scale of newly awarded projects were relatively small during the Period; the depreciation cost of property, plant and equipment substantially increased from approximately HKD 33.8 million for the six months ended 30 September 2021 to approximately HKD 46.6 million for the Period, which was mainly due to the acquisition of motor vehicles and machinery; and increase in finance costs during the Period, which were mainly due to the increase in amount and interest rate of the interest-bearing liabilities.