Anglo Pacific Group PLC - London-based natural resources royalty company - Pretax profit for the first half of 2022 multiplies to USD130.0 million from USD11.8 million a year before. Attributes this to a significant increase in the value of its Kestrel royalty.
Royalty and metal stream related revenue multiplies too to USD93.2 million from USD22.2 million. Cites record contribution from its portfolio, helped by strong commodity prices. Declares two quarterly interim dividends of 1.75p per share, unchanged from a year before. Expects to deliver a good performance in the second half.
"The portfolio is underpinned by attractive near and medium term organic growth prospects. These were further enhanced by the post period end acquisition of a portfolio of advanced stage development royalties from South32 marking the continued execution of the company's strategy to be the leading future-facing commodities royalty and streaming company," Chief Executive Marc Bishop Lafleche comments.
Current stock price: 160.19p, up 2.2% on Thursday
12-month change: up 27%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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South32 (S32)