Higher vanadium and coal prices again boosted mining royalty specialist Anglo Pacific Group PLC (LON:APF).
Income rose 27% to £12.1mln in the three months to September for a nine-month total of £32.9mln (£28.9m).
WATCH: Higher vanadium and coal prices again boost Anglo Pacific Group
Brazil-based vanadium producer Maracás Menchen was the best performer, lifting its contribution by 146% to £1.4mln as the price of the steel additive soared.
Australian coking coal asset Kestrel improved by 26% as coal prices increased, while a special dividend meant a £0.9mln contribution from the recent acquisition of Labrador Iron.
Weak spots were Narribri, Anglo’s other coal royalty in Australia which was affected by mining changes though forecast production for the year remains unchanged.
The value of Anglo’s holding in Spanish uranium project developer Berkeley Energia (LON:BKY) has also reduced by £4mln to £3mln due to permitting concerns.
Overall, Anglo said the outlook continues to improve for the group's commodities, ‘which should result in a record contribution from its royalty portfolio for the second year in a row’.
Total dividends for 2018 will be at least 7p.