The Parkmead ( (GB:PMG) ) has issued an update.
Parkmead Group has announced its interim results for the six-month period ending December 2024, highlighting the sale of its subsidiary Parkmead (E&P) Ltd to Serica Energy, expected to complete in mid-2025. This transaction is set to provide Parkmead with £14 million in cash, enhancing its financial position to pursue further acquisitions and investments in its existing gas and renewable energy projects. Additionally, Parkmead is advancing its Glenskinnan Renewable Energy Park project in collaboration with Galileo Empower, which includes significant wind, solar, and battery storage capacities. The company continues to focus on cost efficiency and strategic growth despite reporting a net loss of £1.2 million for the period, attributed to one-off costs and reduced production in the Netherlands.
More about The Parkmead
Parkmead Group is an independent energy group focused on growth through gas, oil, and renewable energy projects. The company operates in the energy industry, with a market focus on expanding its portfolio through strategic acquisitions and developments in the UK and internationally.
YTD Price Performance: -30.26%
Average Trading Volume: 127,454
Technical Sentiment Signal: Strong Buy
Current Market Cap: £14.48M
See more data about PMG stock on TipRanks’ Stock Analysis page.