LONDON, UNITED KINGDOM--(Marketwired - Mar 30, 2017) - Anglo Pacific Group PLC (
March 30, 2017
Anglo Pacific Group PLC
Publication of 2016 Annual Report and Accounts
Anglo Pacific Group PLC ('Anglo Pacific', the 'Company' or the 'Group') (
Royalty Income Highlights
Figures in £m | CY 2016 | CY2015 | CY2014 | |||
Kestrel | 13.1 | 3.6 | 1.7 | |||
Narrabri North | 4.2 | 3.2 | n/a | |||
EVBC | 1.3 | 1.3 | 1.6 | |||
Maracás Menchen | 0.8 | 0.6 | n/a | |||
Royalty income (like-for-like) | 19.4 | 8.7 | 3.3 | |||
Four Mile | 0.3 | -- | -- | |||
Amapá | -- | -- | 0.2 | |||
Total royalty income | 19.7 | 8.7 | 3.5 |
Financial Highlights
- 127% increase in royalty income to £19.7m (2015: £8.7m), mainly due to a significant increase in overall saleable tonnes from Kestrel
- Earnings also benefitted from upward revisions to coal prices and the weakening of the pound post the EU Referendum vote - with to a significant increase in profit after tax to £26.4m (2015: loss of £22.6m) resulting in basic earnings per share of 15.60p (2015: loss of 14.06p)
- 316% increase in adjusted earnings1 to £16.5m (2015: £4.0m) resulting in adjusted earnings per share of 9.76p (2015: 2.47p)
- 30% increase in net assets to £210.1m (December 31, 2015: £162.0m) resulting in net assets per share of 124.00p (December 31, 2015: 95.00p)
- Improved earnings translated into free cash flow2 generated in 2016 of £13.2m (2015: £4.7m) and net debt reduced to £1.0m at December 31, 2016
- Recommended final dividend of 3.00p per share resulting in a total dividend for 2016 of 6.00p (2015: 7.00p).
- Significant increase in dividend cover, based on adjusted earnings, of 1.6x (2015: 0.4x) - dividend levels will be reviewed by the Board as part of the 2017 interim reporting in August 2017
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