Anglo Pacific’s fourth straight quarter of record portfolio contribution substantially outperformed initial forecasts from equities analysts at Peel Hunt.
Total portfolio contribution for the first half was brought up to US$92.8mln, underscored by a second-quarter contribution of US$49.2mln, 13% up from the previous record of US$43.6mln achieved just one quarter earlier.
While the Kestrel royalty stream dominated the revenue mix, analysts were also impressed by a 17% revenue growth in the non-Kestrel business segment.
Net debt was also reduced by more than double projected amounts.
Looking forward, Peel Hunt said: “We expect the second half of 2022 to start to normalise, with non-Kestrel revenue starting to dominate the contribution mix within the next 6-12 months.”
Shares in the London-listed company have risen by 7% in the past seven-day period.