Impax Asset Management Group plc announce interim results

Impax, the AIM quoted specialist investment manager dedicated to the environmental markets sector, today announces its interim results for the six month period ended 31 March 2010.

Highlights

  • Assets under management and advisory ("AUM") increased 40 per cent from £1,263 million on 30 September 2009 to £1,767 million on 31 March 2010 and rose further to £1,909 million by 30 April 2010.
  • Revenue in the first half of the year, which does not yet include the full effect of significant AUM inflows occurring towards the end of the period, increased to £6.31 million. This compares favourably to revenue for the same period last year of £4.50 million (plus £0.95 million of exceptional, non-recurring fees).
  • Unaudited profit before tax in the first half was £1.67 million, compared to profit for the same period last year of £1.02 million (plus £0.52 million from exceptional, non-recurring fees).
  • Impax-managed quoted equity funds continued to outperform global equity markets.
  • Fundraising for Impax's second private equity fund was successful, attracting €141 million of capital on 23 March 2010.

Commenting on the results, Ian Simm, Founder and Chief Executive of Impax, said:

"I am pleased to report significant progress during the first half of Impax's financial year. Our proven business model of investing in high growth, inefficiently priced environmental markets has gained further traction. In addition, the legislative backdrop has continued to advance, benefiting many of the companies in which we invest.

"With an experienced, committed management team, a broad network of clients and partners and a business model that is already generating rapidly rising earnings, I am confident that Impax is well positioned to take advantage of the significant opportunities in environmental markets."

For further information please contact:

Penrose Financial    
Gay Collins 020 7786 4882/ impax@penrose.co.uk
  07798 626 282  
Shona Prendergast 020 7786 4884 impax@penrose.co.uk
     
Impax Asset Management Group plc    
Ian Simm, Chief Executive 020 7432 2619  
     
Execution Noble & Company Limited    
John Riddell, Director 020 3429 1426
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