Progen Holdings Limited announced unaudited group earnings results for the half year ended June 30, 2018. For the first half, the company reported total revenue was SGD 960,000 compared to SGD 2,641,000 a year ago. Loss from operating activities was SGD 1,371,000 compared to SGD 974,000 a year ago. Loss before income tax was SGD 1,417,000 compared to SGD 974,000 a year ago. Loss net of tax, attributable to equity holders of the parent was SGD 1,417,000 against SGD 975,000 a year ago. Net cash flows used in operating activities was SGD 4,608,000 compared to SGD 1,176,000 a year ago. Purchase of property, plant and equipment was SGD 78,000 compared to SGD 24,000 a year ago. Diluted loss per ordinary share was SGD 0.363 compared to SGD 0.358 a year ago. Net asset value per share is calculated based on 390,511,778 shares as at 30 June 2018. The Group's revenue decreased by 63.65% mainly due to the decrease in expected revenue from products and installation as a result of the delay in the commencement of a new project which was expected to start work in March 2018.