Anglo Pacific Group (LON:APF) chief executive Julian Treger tells proactive: ”Anglo Pacific did have a very strong first half but we also think the second half of the year will be even stronger and then with the coal price having risen as much as it has we’re very optimistic about 2017 and what the implications will be on profitability and the dividend.”
Treger added: ”We’re a dollar-denominated stock and we get dollar income so clearly the weakness of Sterling on the back of Brexit translates into much greater profits for us. Our biggest royalty – the Kestrel Met Coal royalty – should see a much higher percentage of our production share from Rio in the second half and so by comparison to the first half we expect much higher income.”
He went on to say they’re facing a period now where eight or nine years worth of strong income is coming from Kestrel and if the coal price stays up that’ll be an added bonus to their recovery.
Story by ProactiveInvestors