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Highlights
- Parkmead posts profit after tax of GBP 7.35M, a 49% increase from 2024.
- Renewable energy projects contribute to 15% of total revenue for the third year.
- Sale of North Sea licences generates near-term cash of c.GBP 30M for Parkmead.
Parkmead Group plc (LSE:PMG) reported a profit after tax of GBP 7.35M for the year ended 30 June 2025, up 49% from GBP 4.94M in 2024. Earnings per share rose to 6.72 pence from 4.52 pence. Net assets increased by 38% to GBP 27.0M, equivalent to 25 pence per share. Cash reserves strengthened by 39% to GBP 13.2M, compared with GBP 9.5M in the previous year.
Divestment of North Sea Licences
The Group completed the sale of its North Sea licences in April 2025, generating near-term value of approximately GBP 30M. This comprises GBP 14M of firm cash and c.GBP 16M in costs covered for Parkmead’s share of the Skerryvore commitment well. Of the firm cash, GBP 7M was received on completion, with a further GBP 7M payable over the next 15 months. Contingent cash payments of up to GBP 120M could be received if field development plans are approved for the Skerryvore (GBP 30M) and Fynn Beauly (GBP 90M) licences.
Renewable Energy Developments
Parkmead continues to develop its renewable energy portfolio, with the Glenskinnan Renewable Energy Park in partnership with Galileo Empower. The scheme is designed to deliver up to 98 MW of wind capacity across 14 turbines, alongside 20 MW of solar PV and 30 MW of battery storage. Parkmead’s land at Pitreadie is expected to accommodate over 50% of the combined installed capacity proposed.
The Kempstone Hill wind farm maintained operational efficiency between 96–99%, with electricity production increasing 6% to 2,717 MWh from 2,570 MWh in 2024. Non-hydrocarbon revenue now accounts for 15% of total revenues, up from 12% the previous year.
Netherlands Gas Assets
The Group retained 100% of its cash-generating Netherlands gas assets. These assets continue to provide cash flow and growth potential. Further drilling is planned in 2026 at Drenthe V, with detailed design work ongoing for an additional well on the Drenthe VI licence.
Operational and Cost Updates
Cost of sales decreased to GBP 2.2M from GBP 2.3M in 2024. Following the exit from offshore North Sea operations, staff levels were reduced and office space was decreased by over 40%. Total assets for the Group now stand at GBP 32.5M.
Share Price Snapshot
PMG was trading at EUR 13.10per share as of 25 November 2025.
