Parkmead falls as losses deepen

Shares in independent oil and gas firm Parkmead took a tumble after pre-tax losses more than doubled for the year ended 30 June.

Shares in independent oil and gas firm Parkmead took a tumble after pre-tax losses more than doubled for the year ended 30 June.

Despite half-year revenue rising from £2.36m last year to £3.74m in the first half of 2011, increased costs and administrative expenses led to a surge in pre-tax losses from £1.4m to £3.45m.

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