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Anglo Pacific on course for record revenues and more acquisitions

Kestrel's production is up by 40% this year so far

Anglo Pacific Group PLC -
Anglo has notched up US$75mln worth of acquisitions

Mining royalty specialist Anglo Pacific Group PLC (LON:APF) remains on track for another record year even though prices of coal and vanadium, two key commodities, have weakened recently.

Royalty revenue dipped 7% to £9.5mln in the three months to September, though a big increase in the dividend from iron ore group LIORC meant income overall for the quarter rose by 7% to £12.9mln.

For the nine months of 2019 so far, total income is up 39% to £46mln and combined with a substantial production rise at the Kestrel coal mine in Australia puts Anglo on course comfortably to beat last year’s £46.1mln.

Julian Treger, chief executive, highlighted that with US$75mln spent already it had also been a record year on the acquisition front for the group, a trend he expects to continue given Anglo’s financial position and the uncertain political backdrop.

“The recent weakness in certain commodity prices combined with the impact of continued ongoing global economic uncertainty, not least the US China trade tension, should continue to provide investment opportunities for Anglo Pacific, and we see this currently in our pipeline. “

Quick facts: Anglo Pacific Group PLC

Price: 187 GBX

LSE:APF
Market: LSE
Market Cap: £339.35 m
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