UK's Parkmead half-year revenue falls on lower gas output

Parkmead

27/03/2026 07:10

Overview

UK energy group's half-year revenue fell yr/yr due to lower gas production and prices

Company reported a net loss for the period, narrowing from prior year

Parkmead received £3.1 mln deferred payment from UK North Sea licence sale post period end

Outlook

Company expects multiple growth catalysts in the year ahead, including organic drilling and renewables

Result Drivers

GAS PRODUCTION DECLINE - Co attributed lower revenue to natural decline in net gas production from Netherlands assets

LOWER GAS PRICES - Co said European gas prices decreased in line with global markets, reducing average realised prices

HIGHER DEPLETION CHARGES - Cost of sales increased due to higher non-cash depletion charges in Netherlands assets

Company press release: ID:nRSa3427Ya

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
GBP 1.52 mln
H1 Net Income
-GBP 905,000
H1 EBIT
-GBP 1.15 mln
H1 Pretax Profit
-GBP 905,000


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)