Parkmead Group (The) plc
The Parkmead Group plc is a UK and Netherlands focused independent energy group listed on AIM (PMG). It produces natural gas from a portfolio of onshore fields in the Netherlands and holds interests in UK and Dutch upstream exploration and production licences. The Group also owns and operates the Kempstone Hill onshore wind farm in Aberdeenshire and is developing further UK onshore renewable energy (wind, solar, battery storage) opportunities, alongside an Energy Economics advisory segment.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (10)
FY2026Next report expected 1 Dec 2026
- Open the reportJSONComing soonSixty seconds on the FY2025 report
The Parkmead Group produces natural gas from onshore fields in the Netherlands and runs a wind farm in Aberdeenshire. In the year to 30 June 2025 its revenue fell to £4.1m from £5.7m, but its profit after tax rose to £7.3m from £4.9m. Sales fell because the fields produced less gas, owing to maintenance shutdowns and natural decline, although gas prices were higher. Profit was lifted by a one-off gain of £11,818k from selling its UK offshore oil and gas business to Serica Energy. The company also wrote off some exploration spending and cut the value of some production assets. Last year's profit had been helped by a one-off tax gain. The company ended the year with £13.2m in cash and borrowings of £668k. It did not pay a dividend. Management said the group is "well capitalised" to keep growing in renewable energy and wants to buy more UK onshore renewable assets. It could also receive up to £120m more from the sale if two UK offshore fields win development approval. The auditor gave a clean opinion and raised no doubts about the company's ability to keep trading.
From the reportevery line sits on the page it namesWhat drove revenueNetherlands onshore natural gas production (gas and condensate sales)
Gross production across the Netherlands gas portfolio was 2.1kboepd; average realised gas price increased to €40.1/MWh (FY24: €34.2/MWh); gas sales £3,411k, condensate sales £31k
page 6AndRenewable electricity generation at Kempstone Hill wind farm
Electricity generation at Kempstone Hill increased to 2,717MWh (FY24: 2,570MWh); renewables revenue £611k
page 6What moved the margintailwindTightly controlled operating costs
Operating costs remained very tightly controlled at £2.2m (FY24: £2.3m) contributing to a strong operating profit for the period of £7.5m (FY24: £1.3m)
page 4AndtailwindHigher realised gas prices
Average realised gas price in the period increased to €40.1/MWh (FY24: €34.2/MWh)
page 4One-offs in the year£11.8m credit: Gain on disposal of Parkmead (E&P) Limited (sale of UK offshore licences to Serica Energy)
page 29What management saidParkmead has delivered a 38% increase in its net assets and is well capitalised to continue our established growth trajectory in renewable energies
page 3After the year endOutstanding Deferred Share Payments (DSPs) for R Finlay settled in cash at £0.15 pence per share for 319,395 shares (£47,909) in September; DSPs for C MacLaren settled in cash at £0.14 pence per share for 423,532 shares (£59,294) in October
page 75Going concern and the auditUnqualified ('true and fair') audit opinion from Gravita Audit II Limited (senior statutory auditor Jan Charlesworth), with no material uncertainties relating to going concern identified. Key audit matters: carrying values of D&P assets (£2,188k), decommissioning provisions (£1,309k), carrying value of goodwill (£1,084k), carrying values of investments in subsidiaries and intercompany receivables (parent company risk), and loan receivable from a related party (Energy Management Associates Limited, £2,703k). Overall Group materiality £328,000 (1% of gross assets); Company materiality £320,000. Directors confirm the Group has adequate resources to continue as a going concern, with £27m net assets of which £13.2m held in cash
page 22The risks it names first- Exploration risk — relatively few exploration properties are ultimately developed into producing fields; Group seeks to balance this by building a portfolio of prospects with differing technical and commercial riskp.12
- Variable reservoir performance and cost overruns on exploration, development and production projectsp.12
- Financing risk — development of Group projects depends on ability to obtain financing through joint venture, debt, equity financing, farm downs or other means; no assurance of success, which could lead to relinquishment of interests or reduced scope of operationsp.12
- Commodity price volatility — hydrocarbon product prices are volatile; a significant drop or materially adverse fiscal regime change could reduce or render uneconomic the Group's project economicsp.12
Read from C000975-AR-2025-ch.
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