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Anglo Pacific hails record income, led by growth at Kestrel

By BFN News | 08:54 AM | Monday 20 January, 2020


Anglo Pacific said income had swelled to a record in 2019, led by coal royalty growth at the Kestrel mine in Australia, amid a 'significant' increase in volume. The company saw a 20% increase in portfolio contribution in 2019 in the range of £57 to 59m from £49.3m in 2018. 'Our income benefitted mainly from volume increases in the year, somewhat offset by the softening in commodity prices, particularly coal and vanadium, during the second half of 2019,' Anglo Pacific said. The total dividend for 2019 would be at least 9p, up from 8p last year, it added. 'We anticipate further volume growth to come in 2020, with increases expected at Kestrel, Narrabri and Maracas,' Anglo Pacific. 'It is likely that the extractive industry would face further headwinds in 2020 and accessing capital will be more difficult' At 8:54am: (LON:APF) Anglo Pacific Group PLC share price was -0.75p at 181.25p Story provided by StockMarketWire.com

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