Business
2019 Trading Update and Record Income for the year
2019 Trading Update and Record Income for the year.
About this update from Ecora Royalties Plc
[{"type":"text","content":"\n \nRNS Number : 2860A Anglo Pacific Group PLC 20 January 2020 \n\nNews Release\n20 January 2020\n \n \nAnglo Pacific Group PLC\nAnglo Pacific Announces 2019 Trading Update and Record Income for the year\n\nAnglo Pacific Group PLC (\"Anglo Pacific\", the \"Company\" or the \"Group\") (LSE: APF, TSX: APY) issues the following trading update for the period 1 October 2019 to 17 January 2020, which includes certain information for the year ended 31 December 2019. The Company expects to release its full year results on 25 March 2020. Unless otherwise stated, all unaudited financial information is for the quarter or year ended 31 December 2019. \n \nPortfolio Contribution History \n \n\n\n\n£m\n\n\n2019\n\n\n2018\n\n\n2017\n\n\n2016\n\n\n2015\n\n\n2014\n\n\n\n\nTotal portfolio contribution1\n\n\n£57-59\n\n\n£49.3\n\n\n£42.4\n\n\n£19.8\n\n\n£8.9\n\n\n£3.5\n\n\n\n \nHighlights\n \n§ ~20% increase in portfolio contribution in 2019 to £57-59m from £49.3m in 2018 - another record year for Anglo Pacific\n \n§ Significant volume increases at Kestrel, as targeted by the operator at the beginning of 2019, delivered increasing Kestrel portfolio contribution\n \n§ Strong contribution from LIORC in the period, with total dividends for 2019 received of C$4.00 per share, representing an implied yield of ~16%, the Group's second largest source of revenue in 2019\n \n§ Maiden royalty receipts of ~£1.0m received from Mantos Copper\n \n§ Noticeable sales volume increases at Narrabri despite softer thermal coal prices in H2 19\n \n§ EVBC continues to provide the Group with stable revenue aided by continued plant optimisation and a higher gold price in H2 2019 \n \n§ Revenue from Four Mile and the Denison financing arrangement was in line with expectations, but weakness in the vanadium price resulted in lower revenue from Maracás Menchen\n \n§ Net debt at the end of 2019 of £28.9m, following £62.5m of investment and £14.4m of dividend payments - the Group continues to operate well within its debt capacity limits with operating leverage of ~0.6x and further liquidity available\n \n§ Total dividend for 2019 will be at least 9p (2018: 8p) of which 4.875p has already been paid or declared\n \n§ With anticipated volume growth to come from the portfolio, along with a ...