Oil firm Parkmead narrows its losses

Parkmead, the Aberdeenbased oil and gas explorer, has narrowed annual losses.

Although revenues fell for the year ending June 2017 to £4.1 million from last year’s £10.4m, losses before tax fell to £4.3m from £6.4m. Executive chairman Tom Cross said it had been a year of “important progress” for the company.