Business
Interim results H1 2019
Interim results H1 2019.
About this update from Ecora Royalties Plc
[{"type":"text","content":"\n \nRNS Number : 8470J Anglo Pacific Group PLC 22 August 2019 \n\n22 August 2019\nAnglo Pacific Group PLC\nInterim results for the six months ended 30 June 2019\n \nAnglo Pacific Group PLC (\"Anglo Pacific\", the \"Company\", the \"Group\") (LSE: APF) (TSX: APY) is pleased to announce interim results for the six months ended 30 June 2019 which are available on both the Group's website at www.anglopacificgroup.com and on SEDAR at www.SEDAR.com. \n \nResults \n \n\n\n\n\n \n\n\nH1 2019\n\n\n \n\n\nH1 2018\n\n\n\n\n \n\n\n£'000\n\n\n% Mvt\n\n\n£'000\n\n\n\n\nKestrel\n\n\n22,692\n\n\n60%\n\n\n14,225\n\n\n\n\nMaracás Menchen\n\n\n1,783\n\n\n(16%)\n\n\n2,125\n\n\n\n\nNarrabri\n\n\n2,273\n\n\n56%\n\n\n1,456\n\n\n\n\nDenison - interest\n\n\n975\n\n\n(10%)\n\n\n1,079\n\n\n\n\nRoyalty related dividends\n\n\n3,420\n\n\n \n\n\n141\n\n\n\n\nFour Mile\n\n\n110\n\n\n116%\n\n\n51\n\n\n\n\nRoyalty related revenue\n\n\n31,253\n\n\n64%\n\n\n19,077\n\n\n\n\nEVBC - royalty receipts\n\n\n1,021\n\n\n2%\n\n\n1,003\n\n\n\n\nDenison - principal\n\n\n1,015\n\n\n37%\n\n\n741\n\n\n\n\nTotal portfolio contribution\n\n\n33,289\n\n\n60%\n\n\n20,821\n\n\n\n\n \n· 64% increase in revenue in H1 2019 of £31.3m (H1 18: £19.1m)\n· 60% increase in portfolio contribution1 (which includes EVBC and Denison principal) of £33.3m (H1 18: £20.8m) \n· Record half yearly Kestrel revenue - in line with the owners target to increase volumes in 2019 by 40%\n· Higher than expected revenue from LIORC, representing an annualised yield of ~16% on our investment, reflecting the distribution of retained cash and the pellet price premium achieved during H1 19\n· Strong recovery at Narrabri as geotechnical issues are being overcome, with 56% increase in revenue in H1 2019 of £2.3m (H1 18: £1.5m)\n· Maracás Menchen is on track to deliver on its expansion plans, but revenue has been impacted by a significant decline in the vanadium price from the record levels achieved in 2018\n· 42% increase in adjusted earnings2 per share to 12.13p (H1 2018: 8.56p) basic earnings per share more than doubled to 16.76p (H1 2018: 7.24p)\n· 78% increase in cash generated from operating activities to £26.6m (H1 2018: £15...