Impax Group announce interim results
Wednesday, May 13, 2009
Robust financial performance in spite of difficult market
conditions
Impax Group plc ("Impax") the AIM quoted investment manager
which focuses exclusively on the environmental sector, today
announced its interim results for the six month period ended 31
March 2009.
Highlights:
- Robust financial performance in spite of difficult market
conditions. Turnover, which included £945,620 of exceptional,
non-recurring fees, increased to £5,452,373 (from £4,922,608 in the
corresponding period last year).
- Net profit before tax of £1,315,580 (from £1,592,343 in the
corresponding period last year). The reduction reflects the impact
of extra costs associated with extending Impax's platform to
support future growth.
- Assets under management and advisory ("AUM") declined from a
value of £1,098 million on 30 September 2008 to £889 million on 31
March 2009 due to weak equity markets, but recovered to £986
million by 30 April 2009.
- Over five years, Impax Environmental Markets plc ("IEM"), the
largest "pure play" fund that Impax manages has outperformed its
benchmark, returning 29% in the period, while the MSCI World Total
Return Index has returned 11%.
Commenting on the results, Keith Falconer, Chairman of Impax
Group plc said:
"The prospects for the sectors in which we invest have
strengthened considerably in recent months. When inflows resume
into equity funds, it is highly likely that there will be increased
allocations to the environmental sector and that Impax, as the UK's
leading specialist environmental investment manager with a strong
team and long term track record, will benefit accordingly."
"I am pleased to report that, by focusing on investment
performance, maintaining frequent communication with investors and
keeping tight control of costs, our business has remained robust
and is well positioned for further expansion."
To read the full report please click here.
Copies of the interim results for the six months ended 31 March
2009 will be sent to shareholders shortly. Copies will also be
available on the Company's website www.impax.co.uk and may be
collected from the Company's registered office; Mezzanine Floor,
Pegasus House, 37-43 Sackville Street London W1S 3EH.
About Impax Group plc:
Impax Group plc ("Impax"), which is quoted on the Alternative
Investment Market of the London Stock Exchange, was founded in 1994
as a specialist finance house focusing on the markets for cleaner
or more efficient delivery of basic services of energy, water and
waste.
Impax's dedicated team of professionals, with many years of
experience in the financial and environmental sectors, is ideally
placed to understand and take advantage of the investment
opportunities arising from the fast growing environmental markets
sector. Impax Asset Management (the trading entity of Impax Group)
manages assets for institutional and private investors, across a
range of listed and private equity funds.
For more information please view: www.impax.co.uk
Media Enquiries
Samantha Hill
Carbon International
samantha.hill@carboninternational.com
+44 (0)20 7483 7205
David Hopkins
Carbon International
david.hopkins@carboninternational.com
+44 (0)20 7483 3343