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Accounts

Impax AUM up 16 per cent

Assets under management (AUM) at Impax Asset Management Group increased 16 per cent to GBP2.548 billion in the six months to 31 March 2014 from GBP2.197 billion at 30 September 2013.

Impax saw strong net inflows of GBP189m (H1, 2013: GBP100m), while revenue in the first half of 2014 was GBP9.9m (H1, 2013: GBP8.7m) and operating earnings were GBP2.7m (H1, 2013: GBP1.8m).
 
The group’s unaudited profit before tax was GBP1.4m (H1, 2013: GBP1.5m2), with diluted earnings per share at 1.20 pence (adjusted) (H1, 2013: 1.45 pence (adjusted)). Shareholders’ equity meanwhile, increased to GBP23.5m (H1, 2013: GBP22.8m).
 
Ian Simm, chief executive, says: “I’m pleased that Impax has continued to deliver profitable growth during the first half.  Our target markets made good progress in the period, with the renewable energy, water and pollution control sub-sectors all making a significant contribution.  More than half the increase in our AUM is attributable to net inflows.  These were particularly strong from clients in Europe and the US, where we also have a promising mandate pipeline.
 
“We are announcing the initiation of an interim dividend of 0.3 pence per share for the period. The board also intends to maintain the final dividend in line with last year.”


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