August 15, 2025
Proven Group Limited (PROVEN)
Unaudited financials for the first quarter ended June 30, 2025:
Proven Group Limited (PROVEN) for the first quarter ended June 30, 2025, reported a 3% decrease in interest income totalling US$9.81 million compared to US$10.12 million in the corresponding three months last year.
Interest Expense amounted to US$6.37 million (2024: US$5.59 million), this represents an increase of 14% year over year. Consequently, net interest income decreased by 24% to US$3.44 million compared to US$4.53 million for the first quarter ended June 30, 2024.
Gross loss on property sales decreased by 43% to close at US$32,017 (2024: Loss of US$56,404), while gross profit on Manufacturing Operations amounted to US$3.75 million (2024: US$5.16 million). Also, Total other income increased by 12% from US$4.96 million in 2024 to US$5.56 million for the three months.
Consequently, Operating Revenue declined by 13% to US$12.72 million (2024: US$14.60 million).
Total Operating Expenses for the first quarter amounted to US$14.60 million, a 6% increase relative to US$13.84 million reported in 2024.
Operating Loss for the three months amounted to US$1.88 million, a 348% decrease relative to Operating profit of US$757,994 reported in 2024.
Share of Results of Associates amounted to a loss of US$768,616, a 58% decrease from the corresponding period last year. (2024: Loss of US$1.82 million).
Loss before taxation for the first quarter ended June 30, 2025, amounted to US$2.65 million, a 149% increase relative to US$1.07 million reported in 2024.
Taxation Charge for the three months had a 65% decrease to reach US$109,570 (2024: US$309,599). As such, Net Loss for the three months amounted to US$2.76 million (2024: US$1.37 million).
Net Loss Attributable to Shareholders for the three months amounted to US$2.65 million, a 45% increase from the net Loss of US$1.83 million reported in 2024.
Consequently, Loss Per Share for the three months amounted to US$0.003 (2024: LPS: US$0.002). The twelve-month trailing EPS was US$0.002 (J$0.34), and the number of shares used in these calculations was 801,732,000.
Notably, PROVEN’s stock price closed the trading period on August 14, 2025, at a price of $16.90 with a corresponding P/E ratio of 50.08x.
Balance Sheet Highlights
The company’s assets totalled US$1.16 billion (2024: US$1.08 billion). The growth in total assets was led by a US$45.28 million or 11% increase in Investment Securities from US$418.32 million in 2024 to US$463.60 million in 2025.
Shareholder’s equity was US$106.97 million (2024: US$102.50 million), representing a book value per share of US$0.14 (2024: US$0.13).
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