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Anglo Pacific Group PLC - London-based natural resources royalty company - Pretax profit for the first half of 2022 multiplies to $130.0 million from $11.8 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 $93.2 million from $22.2 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%
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