The board of directors Progressive Path Group Holdings Limited announced that, based on a preliminary review of the latest unaudited consolidated management accounts of the Group, the Group is expected to record a profit attributable to owners of the Company ranging from approximately HKD 2.8 million to HKD 3.2 million for the six months ended 30 September 2023 as compared to a profit attributable to owners of the Company of approximately HKD 1.0 million for the corresponding period in 2022. The Board considers that the expected increase in profit was mainly attributable to the revenue growth by approximately 20% as more new construction works projects were engaged and effective cost control during the Period as compared to the corresponding period in 2022. However, this increase was partly offset by the absence of non-recurring government grants from Employment Support Scheme under the Anti-epidemic Fund received from the Government of Hong Kong Special Administrative Region during the Period and increase in finance costs mainly due to the increase in the interest rate of interest-bearing liabilities during the Period.