Parkmead rises on higher revenue outlook for its Dutch gas assets
06/07/2022 09:42
** Shares of UK-based energy company Parkmead Group Plc
PMG.L up as much as 26.4% at 54p; stock set to post biggest
intra-day pct gain since March 2022
** Co sees FY22 revenue from Dutch gas assets to exceed 14.5
mln euros ($14.89 mln), ahead of board's
expectations urn:newsml:reuters.com:*:nRSF4244Ra
** "Expects gas prices could remain elevated for the short
to medium term, due to tight gas supplies in Europe, therefore
Parkmead has chosen to remain 100% unhedged" - co
** "We have delivered record gas revenue from our Dutch gas
assets for the year to 30 June 2022 and remain very confident in
the outlook for these assets" - Executive Chairman Tom Cross
** Including session's gain, stock has risen ~24.34% YTD
($1 = 0.9740 euros)
(Reporting by Hani Kollathodi in Bengaluru)
((Hani.Kollathodi@thomsonreuters.com;))