August 4, 2025
Proven Group Limited (PROVEN)
Audited financials for the year ended March 31, 2025:
Proven Group Limited (PROVEN) for the year ended March 31, 2025, reported a 3% increase in Interest Income totaling US$39.64 million compared to US$38.34 million in the corresponding period last year. Interest Income for the fourth quarter had a 11% increase to close at US$10.21 million compared to US$9.18 million for the comparable quarter of 2024.
Interest Expense amounted to US$23.43 million (2024: US$20.69 million), this represents a increase of 13% year over year. Consequently, net interest income decreased by 8% to US$16.21 million compared to US$17.71 million for the year ended March 31, 2024. The company booked net interest income of US$3.81 million for the fourth quarter versus US$4.40 million reported for the similar quarter of 2024.
Gross profit on property sales increased by 397% to close at US$962,675 (2024: US$193,619), while Gross profit on Manufacturing Operations increased by 14% from US$16.19 million in 2024 to US$18.46 million in 2025. Also, Total other income amounted to US$17.75 million (2024: US$16.52 million).
Consequently, Operating revenue, net increased by 2% from US$50.22 million in 2024 to US$51.47 million in the period under review.
Total operating expenses for the year ended March 31, 2025, amounted to US$55.17 million, a 2% decrease relative to US$56.05 million reported in 2024.
Operating Profit for the year ended March 31, 2025, amounted to US$289,324, relative to operating loss of US$1.06 million reported in 2024. Operating loss for the fourth quarter amounted to US$929.93 (2024: Loss of US$1.04 million).
Share of Results of Associates totalled US$5.19 million a 67% decrease from the corresponding period last year. (2024: US$15.65 million).
Profit before taxation totalled US$5.22 million a 60% decrease from the corresponding period last year. (2024: US$12.94 million).
Taxation Charge for the year ended March 31, 2025, amounted to US$447,000, relative to tax credit of US$685,000 reported in 2024. As such, Net Profit for the year ended March 31, 2025, had a 65% decrease to reach US$4.78 million (2024: US$13.63 million).
Net Profit Attributable to Shareholders for the year amounted to US$2.50 million, an 80% decrease from the US$12.32 million reported in 2024. For the fourth quarter, Net Profit Attributable to Shareholders was US$123,002 (2024: Net Loss of US$5.64 million).
Consequently, Earnings Per Share for the year amounted to US$0.003 (2024: EPS: US$0.015), while Earnings Per Share for the quarter totaled US$0.0002 (2024: LPS: US$0.0070). The twelve-month trailing EPS was US$0.003 (J$0.49), and the number of shares used in these calculations was 801,732,000.
Notably, PROVEN’s stock price closed the trading period on July 31, 2025, at a price of J$17.14 with a corresponding P/E ratio of 34.66x.
Balance Sheet Highlights
The company’s assets totalled US$1.11 billion (2024: US$1.10 billion).
Shareholder’s equity was US$108.73 million (2024: US$108.55 million), representing a book value per share of US$0.14 (2024: US$0.14).
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein