PROGRESSIVE P (01581) announced its interim financial performance, with shareholders' net profit decreasing by 75.27% year-on-year to 3.13 million Hong Kong dollars.

PROGRESSIVE P (01581) announced its interim performance for the six months ending on September 30, 2025. The group achieved a revenue of HK$359 million, a decrease of 25.16% year-on-year; profit attributable to owners of the company was HK$3.013 million, a decrease of 75.27% year-on-year; earnings per share were 0.73 HK cents. The announcement stated that net profit decreased from approximately HK$12.2 million in the six months ending on September 30, 2024 to approximately HK$3 million in the current period, mainly due to a decrease in revenue, particularly from construction activities and construction machinery leasing activities (especially those related to the third runway system and the Kai Tak Sports Park) in this period. The construction market was generally sluggish, and the gross profit margin decreased, mainly due to intense market competition, pricing pressure, and a reduction in overall profitability.