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).
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