SOURCE: Anglo Pacific Group PLC

March 25, 2015 07:00 ET

Anglo Pacific Group PLC: Results for the year ended December 31, 2014

LONDON, UNITED KINGDOM--(Marketwired - Mar 25, 2015) - Anglo Pacific Group PLC (TSX: APY) (LSE: APF)

March 25, 2015


Anglo Pacific Group PLC

Results for the year ended December 31, 2014

Anglo Pacific Group PLC ('Anglo Pacific', the 'Company' or the 'Group') (LSE: APF) (TSX: APY) is pleased to announce full year results for year ended December 31, 2014 and the publication of its audited 2014 Annual Report and Accounts, where the following Condensed Consolidated Financial Statements have been extracted from. Both are available on the Group's website at and on SEDAR at

Six producing royalties in the portfolio, including Narrabri, compared to three producing royalties at the start of 2014

Agreement reached with Kestrel Coal Pty Ltd, a subsidiary of Rio Tinto, to receive quarterly forecast information from August 2014; this provides greater visibility on the expected growth in royalty income from Kestrel

Portfolio diversification achieved through the acquisition of Maracás, a producing royalty in Brazil in June 2014

Royalty income of £3.5 million (2013: £14.7 million); impacted by majority of mining at Kestrel occurring outside of Anglo Pacific owned land

Loss for the year of £47.6 million (2013: £42.5 million) following impairment charges of £31.5 million (2013: £34.6 million)
Adjusted loss of £2.8 million (2013: profit of £9.2 million) which excludes non-cash valuation and impairment items

Net cash of £8.7 million generated from non-core asset disposals in 2014, lessening the impact of lower royalty income

Cash balance of £8.8 million as at December 31, 2014 (£15.7 million as at December 31, 2013)

Recommended final dividend of 4p per share, total dividend for 2014 of 8.45p (2013: 10.2p). Longer term progressive dividend policy of at least 65% of adjusted earnings. Expectation in the medium term is a minimum total of 8p per share dividend per annum

Additional mining and financial expertise added to the Board throughout 2014

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