Business
Foresight Group Holdings Limited Half-Year Results
Foresight Group Holdings Limited Half-Year Results.
About this update from Foresight Group Holdings Ltd.
[{"type":"text","content":"\n \n \n LEI: 213800NNT42FFIZB1T09\n \n \n 1 December 2022\n \n \n \n \n \n \n NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY MEMBER STATE OF THE EEA OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE OF THIS ANNOUNCEMENT WOULD BE UNLAWFUL\n \n \n \n \n \n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Half-year results for the six months ended 30 September 2022\n \n \n \n \n \n \n \n Diversified business model continues excellent track record of delivering profitable growth\n \n \n \n \n \n \n Foresight Group Holdings Limited (\"Foresight\", the \"Group\"), a leading infrastructure and private equity investment manager, is pleased to announce its results for the six months ended 30 September 2022 (\"H1 FY23\").\n \n \n \n \n \n FINANCIAL AND OPERATIONAL HIGHLIGHTS\n \n \n \n \n \n \n Significant progress against all four of our strategic growth targets:\n \n \n \n \n \n \n \n \n \n \n ●\n \n \n \n \n \n 41% increase in Assets under Management (\"AUM\") to £12.5 billion1\n \n (FY22: £8.8 billion); 38% increase in Funds under Management (\"FUM\") to £9.2 billion (FY22: £6.7 billion)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ●\n \n \n \n \n Growth driven by the significant acquisition of Australia-based Infrastructure Capital Group, which added c.£3.0 billion to the Group's AUM, in combination with successful fundraising such as Foresight Sustainable Forestry Company Plc's additional £45 million equity raise\n \n \n \n \n \n \n \n \n \n \n \n \n \n ●\n \n \n \n \n Updating 20-25% AUM growth target to a rolling 3-year average to better reflect the variable nature of acquisition activity and large institutional fundraises\n \n \n \n \n \n \n \n \n \n ●\n \n \n \n \n \n 89% high quality recurring revenues,\n \n at upper end of 85-90% target range\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ●\n \n \n \n \n Total revenue increased by 28% to £50.7 million (H1 FY22: £39.7 million), following FUM uplifts, successful fundraising and significant acquisition activity\n \n \n \n \n \n \n \n \...