Impax Asset Management Group announces interim results
Thursday, June 02, 2011
Interim results for the six
month period ended 31 March 2011
Impax, the AIM quoted specialist investment manager dedicated to
the environmental markets sector, today announced its interim
results for the six month period ended 31 March 2011.
Highlights
- Assets under management and advisory ("AUM") increased 30 per
cent from £1,823 million on 30 September 2010 to £2,362 million on
31 March 2011 and rose further to £2,372 million by 30 April
2011
- Revenue in the first half (H1, 2011) increased 56 per cent to
£9.86 million (2010: £6.31 million)
- Unaudited profit before tax (H1, 2011) was £2.05 million (2010:
£1.67 million), including an exceptional charge of £1.53 million
related to a change in the taxation rules applicable to the
Company's long term incentive scheme
- Diluted adjusted EPS was 1.27p (2010: 1.10p) including the
exceptional charge of 1.01p per share
- Impax-managed listed equity global funds have continued to
out-perform benchmarks
- Second private equity fund has continued to attract capital and
currently has €297 million of commitments
Commenting on the results, Ian Simm, Chief Executive,
said:
"Developments of the past few months, particularly unrest in the
Middle East, damage to the Fukushima nuclear reactors and China's
adoption of a new Five Year Plan, have significantly strengthened
the prospects for investors in environmental markets.
"These results provide further evidence that Impax continues to
make progress in building out its franchise as a high quality
investment manager serving investors who are seeking exposure to
these opportunities.
"Given the attractive valuations of companies active in
environmental markets, I am confident that Impax is well positioned
to leverage its strong distribution network and attract further
funds to manage."
For further information please contact:
| MHP Communications |
| Gay Collins |
020 3128 8582 |
impax@mhpc.com |
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07798 626 282 |
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| Sylvie Szoke |
020 3128 8573 |
impax@mhpc.com |
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| Impax Asset Management Group plc |
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| Ian Simm, Chief Executive |
020 7434 1122 |
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| Espirito Santo |
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| John Riddell, Director |
020 7456 9191 |