- Anglo Pacific said it expected to generate another year of record revenue as a rise in volumes underpinned royalty income growth easing the impact of falling commodity prices.

Total portfolio contribution from the group's royalty portfolio in the third quarter grew 7% to £12.9m from a year earlier.

The uptick in royalty income was largely driven by volume growth from its portfolio, notably Kestrel, whilst it also earned a 'very healthy' return on its most recent acquisition, LIORC, the company said. 'Despite a lower pricing environment, the volumes underpinning our royalties have grown. The Kestrel operator had targeted 40% volume increase in 2019, and from what we have seen in the first nine months of 2019 it would appear that this target is on track,' the company said. 'With the income we have earned year to date, along with our expectation for strong volumes to come in the fourth quarter, we would expect 2019 to be another record year of revenue for the group,' it added.

At 9:43am: [LON:APF] Anglo Pacific Group PLC share price was +0.5p at 194.5p

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