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

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

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