An asset manager with a specific goal of investing in opportunities arising from the transition towards a sustainable economy.
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Results due this am
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RNS Number : 4774N
Impax Asset Management Group plc
01 June 2022
Impax Asset Management Group plc
Interim results to 31 March 2022
London, 1 June 2022 - Impax Asset Management Group plc (‘Impax’ or the ‘Company’), the specialist investor focused on a more sustainable global economy, today announces interim results for the six months to 31 March 2022 (the ‘Period’).
H1 Business highlights
· Positive net inflows of £2.5 billion during the Period, well diversified by channel and geography
· Continued long-term out-performance of Impax’s strategies versus benchmarks, despite market rotation towards value during the Period
· Strengthened investment capabilities, distribution and resilience
· Recent geopolitical events underscore the importance of energy security and tackling climate change, both key areas for Impax’s investments
· AUM £37.0 billion as at 30 April 2022
H1 Financial highlights
· AUM £38.0 billion as at 31 March 2022 (31 March 2021: £30.0 billion)
· Revenue increased to £88.6 million (H1 2021: £60.6 million)
· Adjusted operating profit of £34.0 million (H1 2021: £20.7 million)
· Shareholders’ equity increased to £112.3 million (H1 2021 £81.0 million)
· Adjusted diluted earnings per share increased to 21.5 pence (H1 2021: 11.8 pence)
· Profit before tax of £32.7 million (H1 2021: £14.4 million)
· Interim dividend per share of 4.7 pence (H1 2021: 3.6 pence)
Ian Simm, Chief Executive commented:
"Impax has delivered a solid first half to its financial year, with revenue up 46% and adjusted operating profit up 64% on the comparable period in 2021. We have benefitted from net inflows of £2.5 billion that were well diversified both geographically and across a wide range of sales channels.
"Our investment approach, with its careful attention to risk and resilience, continues to attract asset owners that are seeking to build robust portfolios with attractive returns, focused on the transition to a more sustainable economy.
“Amid considerable market volatility surrounding recent geopolitical events, we continue to be pleased with the long-term performance of our investment strategies.”
Berenberg target reportedly 1000p
currently 550p and down again today
ho hum