StockMarketWire.com - Anglo Pacific maintained its dividend despite swinging to a first-half loss as royalty revenue was hurt by the 'significant decrease' in coal prices during the second-quarter caused by the COVID-19 pandemic. For the six months ended 30 June 2020, the company reported a pre-tax loss of £15.5m, compared with a profit of £41.2m on-year as royalty revenue fell 43% to £17.8m. The significant decrease in coal prices during Q2 2020 - caused by the COVID-19 pandemic - was compounded in the group's Kestrel royalty as they also resulted in a lower royalty rate, the company said. 'Despite the group's performance in the first half of 2020, as we are anticipating an increase in portfolio contribution in H2 2020 we are maintaining the group's quarterly dividend of 1.75p per share,' the company said. Looking ahead, to Q3 2020, the company it expected to see an end to COVID-19 shutdowns as Cigar Lake (McClean Lake mill) set to restart, with EVBC having restarted already in Q2 2020. 'We see a stronger pricing environment already taking place thus far in H2 2020,' said Anglo Pacific.

At 8:07am: [LON:APF] Anglo Pacific Group PLC share price was +3.7p at 109.3p



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