Business
Interim Results
Interim Results.
About this update from Impax Asset Management Group Plc
[{"type":"text","content":"\n \nRNS Number : 5333Y Impax Asset Management Group plc 18 May 2016 \n \n\nImpax Asset Management Group plc - Interim Results to 31 March 2016\n \nLondon, 18 May 2016 - Impax Asset Management Group plc, (\"Impax\" or the \"Company\"), the AIM listed investment manager dedicated to investing in the opportunities created by the scarcity of natural resources and growing demands for cleaner more efficient products and services, announces its results for the six months to 31 March 2016.\nHighlights\n· Assets under management and advice (\"AUM\") increased 26% since year end to new peak of £3.6bn \n· Net inflows of £300 million, predominantly from the US and Continental Europe\n· Strong investment performance: all listed equity strategies outperformed MSCI ACWI\n· Strong balance sheet maintained\n· Interim dividend increased by 25 per cent to 0.50 pence per share\n· Encouraging discussions with investors on raising new monies in real assets strategies\n \nFinancial results\n \n\n\n\n\n\n\n\nH1 2016\n\n\nH2 2015\n\n\nH1 2015\n\n\n2015\n\n\n\n\nRevenue\n\n\n£9.4m\n\n\n£9.3m\n\n\n£10.4m\n\n\n£19.7m\n\n\n\n\nOperating earnings1\n\n\n£1.6m\n\n\n£0.8m\n\n\n£2.3m\n\n\n£3.1m\n\n\n\n\nProfit before tax\n\n\n£2.1m\n\n\n£3.2m\n\n\n£1.9m\n\n\n£5.1m\n\n\n\n\nEarnings per share\n\n\n1.35p\n\n\n1.52p\n\n\n1.61p\n\n\n3.13p\n\n\n\n\nDividend\n\n\n0.50p\n\n\n1.70p2\n\n\n0.40p\n\n\n2.10p2\n\n\n\n\n \nA material proportion of the AUM flows were received near the end of the Period, and therefore Revenue during the Period does not fully reflect the Company's AUM growth. Fees from our largest private equity fund fell from 1 April 2015 which contributed to Revenue being lower than in H1 2015; this should be replaced when the Company raises new capital in this area. Based on our current cost base and run rate revenues from AUM at the end of the Period, we would expect operating earnings to increase during the second half. \nIan Simm, Chief Executive commented:\n\"Impax has had a ...