Business
Preliminary Year End Results
Preliminary Year End Results.
About this update from Impax Asset Management Group Plc
[{"type":"text","content":"\n RNS Number : 8112D Impax Asset Management Group plc 09 December 2009 \n \n9 December 2009\n\nIMPAX ASSET MANAGEMENT GROUP PLC\nPRELIMINARY STATEMENT OF RESULTS\nFOR THE YEAR ENDED 30 SEPTEMBER 2009\n\nImpax Asset Management Group plc (\"Impax\"), the specialist environmental investment manager, today announces its preliminary results for the year ended 30 September 2009.\n\nFinancial highlights\n\n\n\nFinal AUM of £1,263m, up 42% from £889m at 31 March 2009; full year increase of 15% from £1,098m \n\n\n\n\nRevenues of £10.4m (2008: £11.4m), reflecting 10 months of lower equity markets during the period\n\n\n\n\nProfit before tax attributable to shareholders of £2.47m (2008: £3.51m - restated) \n\n\nEarnings per share (\"EPS\") were 2.63 pence (adjusted), (2008: 3.36 pence (restated)) \n\n\n\n\nStrong investment performance sustained. The largest funds in each division performed as follows:\n\n\nQuoted equities: Over 5 years ended 30 September 2009, NAV of Impax Environmental Markets plc increased by 79.9% compared to 38.1% increase in MSCI World Index\n\n\nPrivate equity: Performance of Impax New Energy Investors recently ranked by Preqin as first quartile (among infrastructure funds launched in 2005)\n\n\n\n\nProposal to increase dividend to 0.40 pence per share (2008: 0.35 pence per share)\n\n\nPost year end, further increase in AUM to £1,419m as of 30 November 2009, including: \n\n\n€80m of a new €150m mandate from European institutional investor, with balance expected in early 2010\n\n\nMandate to manage Impax Asian Environmental Markets plc, a newly launched investment trust with £104.5m of gross assets\n\n\n\n\n\nKeith Falconer, Chairman of Impax, said:\n\n\"This year's results demonstrate that Impax has taken a substantial step forward in building assets under management in spite of volatile market conditions. \n\n \"It is an exciting time to be managing funds targeting the environmental sector. The release of our annual results coincides with the start of the COP-15 conference in Copenhagen. Irrespective of the outcome, it is rational to conclude that interest in clean energy, energy efficien...