Business
Half Yearly Report
Half Yearly Report.
About this update from Parkmead Group Plc
[{"type":"text","content":"\n RNS Number : 3303I Parkmead Group (The) PLC 10 March 2010 \n \n\n \n \n \nThe Parkmead Group plc (the \"Group\")\n \nInterim Results for the 6 months ended 31 December 2009\n \nInterim results summary\n \n· Acquisition of Aupec Limited (announced 3 November 2009)\n \n· Operating loss reduced to £800K (31 December 2008: loss £1,114K and year ended 30 June 2009: loss £2,543K)\n \n· Loss before taxation down to £218K (31 December 2008: loss £4,273K and year ended 30 June 2009: loss £6,327K)\n \n· Total comprehensive income for the period of £1,486K (31 December 2008: expense £9,041K and year ended 30 June 2009: expense £10,757K)\n \n· Net cash of £3,212K (£3,846K as at 31 December 2008 and £2,517K as at 30 June 2009)\n \nThe Group's Chairman, Colin Goodall commented, \"I am pleased to report a much improved position for the six months to 31 December 2009. The Group acquired Aupec Limited in November 2009 and since then the enlarged group has been actively pursuing a number of opportunities leveraging off the combined relationships of the enlarged group. Furthermore, the technical skills acquired through the combination with Aupec have allowed the Group to undertake asset evaluation work in house which we believe will assist us to more effectively source and execute investments in the energy sector.\n \nIn financial terms, the Group's turnover, cash and net assets have all improved during the six months to 31 December 2009. Our net assets per share improved to 1.64 pence (30 June 2009: 1.52 pence). The Group's total reported comprehensive income was £1,486K helped by the improvement in market sentiment surrounding the Group's major asset, its investment in Faroe Petroleum and a return to more stable global equity and commodity markets. \n \nWe continue to seek investment opportunities in the energy sector at both the asset and corporate levels and will update shareholders as we make progress towards this\"\n \n \nEnds \nEnquiries\n \nThe Parkme...