SOURCE: Anglo Pacific Group PLC

February 20, 2014 07:00 ET

Anglo Pacific Group PLC: Preliminary Results

LONDON, UNITED KINGDOM--(Marketwired - Feb 20, 2014) - Anglo Pacific Group PLC (LSE: APF) (TSX: APY)

Anglo Pacific Group PLC
Preliminary Results for the year ended December 31, 2013

Anglo Pacific Group PLC ('Anglo Pacific', the 'Company' or the 'Group') (LSE: APF) (TSX: APY) is pleased to announce preliminary results for the twelve months ended December 31, 2013. These are available on both the Group's website at www.anglopacificgroup.com and on SEDAR at www.SEDAR.com.

  • Recommended final dividend of 5.75p per share, maintaining total dividend for 2013 of 10.2p (2012: 10.2p)
  • Gross royalty income of £14.7m (2012: £15.2m (restated))
  • Operating profit of £11.3m (2012: £11.2m (restated))
  • Loss after tax of £42.5m (2012: profit £11.6m (restated))
  • Earnings per share of (39.01)p (2012: 10.67p (restated))
  • Adjusted profit after tax of £9.1m (2012: £9.4m (restated)), resulting in adjusted earnings per share of 8.39p (2012: 8.69p (restated))
  • Appointment of Julian Treger and Mark Potter as Chief Executive Officer ("CEO") and Chief Investment Officer ("CIO") respectively on October 21, 2013, bringing a strong track record of successful investment in the mining sector
  • New management team are focused on acquiring near-term, cash producing royalties
  • Cash and cash equivalents of £15.7m (2012: £24.0m)
  • US$15.0m twelve-month unsecured revolving credit facility signed in February 2014, which is currently undrawn and provides additional funding flexibility
  • Net assets of £216.9m (2012: £301.0m (restated))
  • Non-cash impairment charge of £34.6m (2012: £11.4m (restated)), predominantly relating to strategic equity investments
  • Completion of Rio Tinto Limited ("Rio Tinto") US$2bn capex program coupled with production commencement at Kestrel South underlining Rio Tinto's commitment to Kestrel
  • Signing of co-investment agreement with FlowStream Commodities Ltd ("FlowStream"), providing an opportunity to increase exposure to oil and gas royalties

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/5168A_1-2014-2-20.pdf

Contact Information

  • For further information:
    Anglo Pacific Group PLC
    +44 (0) 20 3435 7400
    Julian Treger
    Chief Executive Officer

    Kevin Flynn
    Chief Financial Officer

    Georgia Vranaki
    Head of Marketing and Investor Relations

    Liberum Capital
    +44 (0) 20 3100 2000
    Chris Bowman / Ryan de Franck

    BMO Capital Markets Limited
    +44 (0) 20 7664 8121
    Neil Haycock / Tom Rider

    Bell Pottinger
    +44 (0) 20 7861 3232
    Nick Lambert / Lorna Cobbett