Preliminary Results 2009
Wednesday, December 09, 2009
Impax Asset Management Group plc ("Impax"), the specialist
environmental investment manager, today announces its preliminary
results for the year ended 30 September 2009.
Financial highlights
- Final AUM of £1,263m, up 42% from £889m at 31 March 2009; full
year increase of 15% from £1,098m
- Revenues of £10.4m (2008: £11.4m), reflecting 10 months of
lower equity markets during the period
- Profit before tax attributable to shareholders of £2.47m (2008:
£3.51m - restated)
- Earnings per share ("EPS") were 2.63 pence (adjusted), (2008:
3.36 pence (restated))
- Strong investment performance sustained. The largest funds in
each division performed as follows:
- Quoted equities: Over 5 years ended 30 September 2009, NAV of
Impax Environmental Markets plc increased by 79.9% compared to
38.1% increase in MSCI World Index
- Private equity: Performance of Impax New Energy Investors
recently ranked by Preqin as first quartile (among infrastructure
funds launched in 2005)
- Proposal to increase dividend to 0.40 pence per share (2008:
0.35 pence per share)
- Post year end, further increase in AUM to £1,419m as of 30
November 2009, including:
- €80m of a new €150m mandate from European institutional
investor, with balance expected in early 2010
- Mandate to manage Impax Asian Environmental Markets plc, a
newly launched investment trust with £104.5m of gross assets
Keith Falconer, Chairman of Impax, said:
"This year's results demonstrate that Impax has taken a
substantial step forward in building assets under management in
spite of volatile market conditions.
"It is an exciting time to be managing funds targeting the
environmental sector. The release of our annual results coincides
with the start of the COP-15 conference in Copenhagen. Irrespective
of the outcome, it is rational to conclude that interest in clean
energy, energy efficiency and the drivers behind environmental
markets will continue to strengthen for many years to come."
Ian Simm, Chief Executive of Impax, said:
"Public sector commitment to the areas in which Impax is
investing has grown significantly. Since late 2008 more than US$500
billion of 'stimulus funding' has been pledged for deployment in
the environmental sector. Crucially, institutional investors are
increasingly persuaded that the sector offers credible potential
for superior returns over the long term.
"We have a strong track record, powerful distribution partners
and a highly qualified, committed investment team. This has so far
resulted in strong asset flows and we are committed to maximising
the opportunities ahead."
Analysts' briefing
There will be a conference call for analysts at 9.00am on
Wednesday, 9 December. A copy of the presentation will be available
on the Impax website at www.impax.co.uk
Contacts
For further information please contact:
Impax Asset Management Group plc
Keith Falconer, Chairman
Ian Simm, CEO 020 7434 1122
Noble & Company Limited
John Riddell, Director 020 7763 2200
Harry Stockdale 020 7763 2200
Penrose Financial
Gay Collins 020 7786 4882/07798 626282 gayc@penrose.co.uk
Shona Prendergast 020 7786 4884 shonap@penrose.co.uk impax@penrose.co.uk
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