Interim Results for the six-month
period ended 31 December 2018

Posted: 29/03/19

Parkmead, the UK and Netherlands-focused group, with four business areas, is pleased to report its interim results for the six-month period ended 31 December 2018. 




Major growth in revenue and profits



Strong gas production achieved; multiple new opportunities identified



Progress on valuable development projects; potential Greater Perth Area tie-back



37% increase in oil and gas resources 



Well positioned for further acquisitions and opportunities



Parkmead’s Executive Chairman, Tom Cross, commented:


“I am pleased to report excellent progress in the six-month period to 31 December 2018. Parkmead has delivered major growth in its revenue and profits. This is an outstanding achievement, creating a strong foundation from which to build. 


Parkmead benefits from increasing balance within the Group, with four complementary areas of the business: Netherlands Gas, UK Oil and Gas, Performance Benchmarking and Economics, and Future Opportunities. The combination of these components adds strength and quality to Parkmead’s operations.


We are delighted to have significantly grown gas production at the Diever West field, which increases Parkmead’s cash flow.


We are also pleased with the major advances made within the Greater Perth Area project. The Group is in discussions with leading, international service companies and oil companies in relation to driving forward the GPA project.


The team at Parkmead is working intensively to evaluate and execute further value-adding opportunities, which could provide additional upside to the Company. These are primarily energy-related and include wider opportunities, which could broaden and enhance the Group’s asset base and revenue stream.


Parkmead is well positioned for the future. 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.”


For enquiries please contact: 


The Parkmead Group plc+44 (0) 1224 622200

Tom Cross (Executive Chairman)

Ryan Stroulger (Chief Financial Officer)



Arden Partners plc

(Financial Adviser, NOMAD and Corporate Broker to Parkmead)+44 (0) 20 7614 5900

Ciaran Walsh

Maria Gomez de Olea


Instinctif Partners Limited (PR Adviser to Parkmead)+44 (0) 20 7457 2020

David Simonson

Sarah Hourahane

Dinara Shikhametova


For full details please see the pdf version of the announcement in the Financial Reports section here