Parkmead Group (The) (PMG)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

16.50p
   
  • Change Today:
    -0.75p
  • 52 Week High: 39.20
  • 52 Week Low: 12.50
  • Currency: UK Pounds
  • Shares Issued: 109.27m
  • Volume: 400,953
  • Market Cap: £18.03m
  • RiskGrade: 261

Parkmead Group swings to a loss amid 'record low' gas prices

By Iain Gilbert

Date: Friday 20 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Energy outfit The Parkmead Group said on Friday that it had swung to a loss as a result of "record low" gas prices weighing on revenues.
Parkmead said full-year revenues had more than halved to £4.08m from £8.3m, dragging the group to a pre-tax loss of £792,000 for the twelve months ended 30 June, a marked turnaround when compared to the £4.8m profit recorded a year earlier.

The AIM-listed group stated that much of its poor performance was a result of gas prices falling from highs of roughly €25.7 per megawatt-hour in October 2018 to lows not seen in "over a decade" of roughly €5.00 per megawatt-hour due to an oversupply of liquefied natural gas into the European market and the Covid-19 pandemic.

However, Parkmead said the future for the group was "bright", highlighting the fact that gas prices had "rebounded strongly" to approximately €14 per megawatt-hour in November.

Chairman Tom Cross said: "Despite revenues being impacted by the low gas price environment, Parkmead has delivered growth in its asset base whilst retaining financial strength. This creates a strong foundation from which to build and Parkmead remains robust in the context of broader global uncertainty brought about by the pandemic.

"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 to secure opportunities that maximise future value for our shareholders."

As of 1020 GMT, Parkmead shares were up 5.99% at 29.36p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PMG Market Data

Currency UK Pounds
Share Price 16.50p
Change Today -0.75p
% Change -4.35 %
52 Week High 39.20
52 Week Low 12.50
Volume 400,953
Shares Issued 109.27m
Market Cap £18.03m
RiskGrade 261

PMG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
0.13% above the market average0.13% above the market average0.13% above the market average0.13% above the market average0.13% above the market average
5.26% above the sector average5.26% above the sector average5.26% above the sector average5.26% above the sector average5.26% above the sector average
Price Trend
40.69% below the market average40.69% below the market average40.69% below the market average40.69% below the market average40.69% below the market average
12.2% below the sector average12.2% below the sector average12.2% below the sector average12.2% below the sector average12.2% below the sector average
Income Not Available
Growth
45.15% above the market average45.15% above the market average45.15% above the market average45.15% above the market average45.15% above the market average
9.43% above the sector average9.43% above the sector average9.43% above the sector average9.43% above the sector average9.43% above the sector average

PMG Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:21 5,000 @ 16.36p
15:56 100,000 @ 16.85p
15:52 16,800 @ 16.85p
15:42 32,000 @ 16.15p
15:42 12,364 @ 16.56p

PMG Key Personnel

Finance Director Ryan Ashley Stroulger

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