PRELIMINARY RESULTS FOR THE YEAR ENDED 31DECEMB...
Significant Expansion in Royalty Portfolio and 6.9% Increase in Final Dividend
Anglo Pacific Group PLC ("Anglo Pacific" or "The Group") (LSE: APF, ASX: AGP),
the natural resources royalties company, today announces its Preliminary Results
showing further substantial progress in the development of its royalty portfolio
and an increase in both its final and full year dividends.
Financial Highlights
Royalties
* Australian coal royalties independent valuation of £149.9 million (2008:
£93.3 million)
* Total value of other royalties £27.3 million (2008: £7.8 million)
* Coal royalty income for the year of £20.3 million (2008: £22.1 million)
Assets
* Total assets increased by 77% to a record £312 million (2008: £176 million)
* Total quoted and unquoted strategic interests valued at £113.5 million
(2008: £45.8 million)
* Cash and royalty receivables at the year end of £17.9 million (2008: £28.4
million)
Earnings
* Profit before tax of £25,883,000 (2008: £35,255,000)
* Earnings per share of 19.20p (2008: 27.25p)
* Realised profits for the year from non-core mining interests of £6.4 million
(2008: £14.0 million)
Dividends
* Final dividend increased by 6.9% to 4.65p per share (2008: 4.35p)
* Total dividends for the year increased by 7.1% to 8.35p (2008: 7.80p)
Operational Highlights
* New royalty rights acquired in gold, platinum and uranium
* Compliant resources announced for the Trefi and Panorama Canadian coal
projects
* Threefold increase in value of strategic quoted interests
* Steady coking coal royalty receipts
* Increased exposure to coal and uranium projects
* TSX listing progressing
Commenting on the Preliminary Results, Peter Boycott, Chairman of Anglo Pacific
Group PLC said:
"Anglo Pacific has made further progress in diversifying its royalty portfolio
with four new royalties acquired during the year. Its quoted mining interests
have increased in value threefold and the Group has strong cash reserves, no
debt and total assets now well in excess of £300 million.
The Group remains committed to a progressive dividend policy and I am pleased to
announce a 6.9% increase in the final dividend. Anglo Pacific will continue to
make the acquisition of new royalties its overriding strategic focus."
For further information and enquiries:
Anglo Pacific Group PLC
+44 (0) 20 7318 6360
Peter Boycott, Chairman
Matthew Tack, Finance Director
Liberum Capital
+44 (0) 20 3100 2000
Chris Bowman
Ellen Francis
Scott Harris
+44 (0) 20 7653 0030
Stephen Scott
James O'Shaughnessy
Website:www.anglopacificgroup.com <
http://www.anglopacificgroup.com>
The full report can be downloaded here:
[HUG#1387946]
Anglo Pacific Group PLC - Preliminary Results 2009:
http://hugin.info/138910/R/1387946/346217.pdf
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.