Impax Asset Management Group plc announce interim results
Wednesday, May 19, 2010
Impax, the AIM quoted specialist investment manager dedicated to
the environmental markets sector, today announces its interim
results for the six month period ended 31 March 2010.
Highlights
- Assets under management and advisory ("AUM") increased 40 per
cent from £1,263 million on 30 September 2009 to £1,767 million on
31 March 2010 and rose further to £1,909 million by 30 April
2010.
- Revenue in the first half of the year, which does not yet
include the full effect of significant AUM inflows occurring
towards the end of the period, increased to £6.31 million. This
compares favourably to revenue for the same period last year of
£4.50 million (plus £0.95 million of exceptional, non-recurring
fees).
- Unaudited profit before tax in the first half was £1.67
million, compared to profit for the same period last year of £1.02
million (plus £0.52 million from exceptional, non-recurring
fees).
- Impax-managed quoted equity funds continued to outperform
global equity markets.
- Fundraising for Impax's second private equity fund was
successful, attracting €141 million of capital on 23 March
2010.
Commenting on the results, Ian Simm, Chief Executive of
Impax, said:
"I am pleased to report significant progress during the first
half of Impax's financial year. Our proven business model of
investing in high growth, inefficiently priced environmental
markets has gained further traction. In addition, the legislative
backdrop has continued to advance, benefiting many of the companies
in which we invest.
"With an experienced, committed management team, a broad network
of clients and partners and a business model that is already
generating rapidly rising earnings, I am confident that Impax is
well positioned to take advantage of the significant opportunities
in environmental markets."
For further information please contact:
| Penrose Financial |
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| Gay Collins |
020 7786 4882/ |
impax@penrose.co.uk |
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07798 626 282 |
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| Shona Prendergast |
020 7786 4884 |
impax@penrose.co.uk |
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| Impax Asset Management Group plc |
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| Ian Simm, Chief Executive |
020 7432 2619 |
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| Execution Noble & Company Limited |
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| John Riddell, Director |
020 3429 1426 |