SU Group Holdings Limited (SUGP) Q4 2025 earnings summary

Executive summary

• Revenues increased 5.6% year-over-year to HK$192.4 million (US$24.7 million) for the fiscal year ended September 30, 2025, driven by growth in both security-related engineering and security guarding and screening services.

• Net loss for FY2025 was HK$18.5 million (US$2.4 million), compared to net income of HK$10.7 million in FY2024, primarily due to higher labor costs, increased subcontracting, and higher SG&A expenses.

• Gross profit margin declined to 16.0% in FY2025 from 26.1% in FY2024, reflecting increased use of subcontractors and rising labor costs.

• The company completed a 1-for-10 share consolidation and re-designation of share capital in August 2025 to regain Nasdaq compliance.

Financial highlights

• FY2025 revenues: HK$192.4 million (US$24.7 million), up from HK$182.2 million in FY2024.

• FY2025 net loss: HK$18.5 million (US$2.4 million), versus net income of HK$10.7 million in FY2024.

• Gross profit: HK$30.7 million (US$4.0 million) in FY2025, down from HK$47.6 million in FY2024.

• Cash and cash equivalents: HK$25.4 million (US$3.3 million) as of September 30, 2025.

• No dividends declared for FY2023, FY2024, or FY2025.

Outlook and guidance

• Management expects to retain all available funds and future earnings for business operations and expansion, with no plans to declare dividends in the foreseeable future.

• The company believes current cash and anticipated operating cash flows are sufficient for working capital and capital expenditures for the next 12 months.

• Ongoing focus on expanding security-related engineering and security guarding services, as well as related vocational training.