Q2 2018 and Half Year 2018 Trading Update
London England (FSCwire) - Anglo Pacific Group PLC ("Anglo Pacific", the "Company" or the "Group") (LSE: APF, TSX: APY), the London and Toronto listed royalty company, issues the following trading update for the period 1 April to 25 July 2018. Unless otherwise stated, all unaudited financial information is for the quarter or half year ended 30 June 2018.
This update is ahead of the release of the half year results on 23 August 2018.
Highlights
- ~65% quarter on quarter and ~30% year on year increase in royalty income for Q2 2018 in the range of £11.0m - £11.5m (Q1 2018: £6.7m, Q2 2017: £8.6m)
- ~10% year on year increase in royalty income for the six months ended 30 June 2018, to £17.5m - £18.0m (H1 2017: £16.1m)
- Cash received from Denison/McLean Lake of £1.5m - £1.7m in addition to the above royalty income for the six months ended 30 June 2018 (H1 2017: £1.5m)
- ~15% increase in total contribution1 from royalty portfolio for the six months ended 30 June 2018 to £20.5m - £21.0m (H1 2017: £17.6m)
- ~165% increase in royalties from the Maracás Menchen vanadium mine, to a record £2.0m - £2.5m for H1 2018 (H1 2017: £0.8m) and already in advance of that received for 2017 as a whole
- Strong performance from Kestrel, with H1 2018 royalty income in the range of £14.0m - £14.5m, up ~15% on the same period in 2017 driven mainly by higher coal prices
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/7922V_1-2018-7-25.pdf
For further information:
| Anglo Pacific Group PLC | +44 (0) 20 3435 7400 | |
| Julian Treger - Chief Executive Officer Kevin Flynn - Chief Financial Officer and Company Secretary | ||
| Website: | www.anglopacificgroup.com | |
| BMO Capital Markets Limited | +44 (0) 20 7664 8020 | |
| Jeffrey Couch / Tom Rider | ||
| Canaccord Genuity Limited | +44 (0) 20 7523 8000 | |
| Martin Davison / James Asensio | ||
| Peel Hunt LLP | +44 (0) 20 7418 8900 | |
| Ross Allister / James Bavister | ||
| Redleaf Communications | +44 (0)20 3757 6880 | |
| Elisabeth Cowell / Ian Silvera / Fiona Norman | ||
To view the associated document to this release, please click on the following link:
public://news_release_pdf/anglopacific07262018.PDF
To view the original release, please click here
Source: Anglo Pacific Group PLC (LSE:APF, TSX:APY, OTC Bulletin Board:AGPIF, FWB:HGR)
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