North Sea driller Parkmead (PMG) has reported a loss per share of 4.8p for the six months to December, 75 per cent lower than the deficit posted at the end of 2014.
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The depressed oil price meant that the group, which is chaired by former Dana Petroleum head Tom Cross, again saw a fall in revenues, though the £5.8m fall in the cost of sales was slimmer than broker Panmure Gordon expected. Accordingly, the broker has downgraded its full-year adjusted forecasts to a pre-tax loss of £2.8m and a 2.9p loss per share.
