Progressive Path Group (HKG:1581) said it expects HK$18 million to HK$21 million in net profit for the fiscal year ended March 31, a decrease from the HK$34.1 million recorded in the earlier year, according to a Thursday filing with the Hong Kong bourse.

The firm attributed the anticipated drop to a number of factors, including an estimated 8% decline in revenue from the HK$913.8 million generated in the prior year period.

The firm's financial results are due on June 29.