Business
Trading Statement
Trading Statement.
About this update from Impax Asset Management Group Plc
[{"type":"text","content":"\n\nImpax Asset Management Group plc\nResults for the year ended 30 September 2023\n \nLondon, 29 November 2023 - Impax Asset Management Group plc (\"Impax\" or the \"Company\"), the specialist investor focused on the transition to a more sustainable global economy, today announces final audited results for the year ending 30 September 2023 (the \"Period\").\nBusiness highlights\n· Further development of the transition to a more sustainable economy, with significant growth in renewable power generation, electric vehicle fleets and investment to adapt to more extreme weather\n· High client retention despite challenging markets\n· Targeted investment to support growth\n· Strengthened distribution capabilities, including in North America, Latin America, and Japan, with a new office in Tokyo\n· Increased product pipeline, including launching an equities strategy targeting Sustainable Infrastructure\n· Additional investment to expand the Company's fixed income offering\n· Increased operational resilience and improved efficiency through investment in systems and infrastructure\n· Launched Impax Sustainability Centre to facilitate the scaling of resources in this key area\n· Awards during and after the Period included: 'Investment Manager of the Year' (European Pensions Awards 2023); 'Responsible Investor of the Year' (Reuters Responsible Business Awards) and 'Listed Equites Manager of the Year' (Environmental Finance Sustainable Investment Awards).\n \n Financial highlights\n· Assets under management (\"AUM\") increased by 4.8% to £37.4 billion (2022: £35.7 billion)\n· Revenue increased 1.7% to £178.4 million (2022: £175.4 million)\n· Adjusted operating profit decreased by 13.8% to £58.1 million (2022: £67.4 million)\n· Profit before tax decreased by 28.2% to £52.1 million (2022: £72.6 million)\n· Cash reserves of £87.7 million (2022: £107.0 million)\n· Adjusted diluted earnings per share decreased by 16.4% to 35.2 pence (2022: 42.1 pence)\n· Proposed final dividend of 22.9 pence per share bringing total dividend per share to 27.6 p...