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Parkmead swings to annual profit after boosting Netherlands gas output

By BFN News | 07:34 AM | Friday 15 November, 2019


UK and Neterlands focused energy group Parkmead swung to a full-year profit after it produced more gas from the Diever West field in the Netherlands. Pre-tax profit for the year through June amounted to £4.8m, compared to a loss of £5.9m on-year, as revenue rose 18% to £8.3m. The company also said that it had made significant progress on its Platypus, GPA and Skerryvore oil and gas projects. 'Parkmead is well positioned for the future,' executive chairman Tom Cross said. 'We have excellent UK and Netherlands regional expertise, significant cash resources, and a growing portfolio of high-quality assets.' 'The group will continue to build upon the inherent value in its existing interests with a balanced, acquisition-led, growth strategy securing opportunities that maximise long-term value for our shareholders.' Story provided by StockMarketWire.com

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