Impax, the UK's largest environmental investment company announces interim results
June 10 2008
Impax Group plc, the AIM quoted investment company which focuses
exclusively on the
environmental markets sector, has announced its interim results for
the period ending 31
March 2008.
Highlights:
• Assets under management and advisory ("AUM") at the end of
March 2008 were £1.089
billion. This is well ahead of the £687 million reported on
last year's Interims. On 15 May,
AUM had increased further to £1.256 billion.
• Turnover for the six months to 31 March 2008 was
£4,922,608 (2007: £3,179,103). The unaudited
net result for the period was a profit before tax of
£1,592,343 (2007: £644,830).
• Over the six months to 31 March 2008, Impax Environmental
Markets plc ("IEM"), the
largest fund we manage, boasts total net assets of £366
million, large enough for it to
qualify for the FTSE 250 index. We are delighted by this
development, particularly given that
the fund was only established in 2002.
• Impax Group continues to grow and has recently launched 4
new products: IFSL Impax
Environmental Leaders Fund; Pax World Global Green fund; Parvest
Environment Fund and
we have commenced sub-management of our first segregated account
for Russell
Investments.
Commenting on the results, Keith Falconer, Chairman, said:
"As a specialist investment manager operating exclusively in the
environmental sector, we
are continually encouraged by the positive developments in our
target markets. The sectors
in which we invest are propelled by strong fundamentals. Energy and
commodity prices
have continued to strengthen, making the economic case for
alternative energy generation,
energy efficiency products and recycling technologies even more
attractive. In addition,
there have been further positive developments in legislation
affecting our sector,
particularly the detailing of 2020 targets in Europe covering
renewable energy, energy
efficiency and greenhouse gas reduction. Consequently, we are
delighted to announce that
almost all our portfolio companies have met or exceeded market
expectations in recent
months and we remain confident that Impax is well positioned for
further success."
Click here to view the full Chairman's statement.
About Impax Group plc
Impax Group plc (Impax) was founded in 1994 as a specialist finance
house focusing on the
markets for cleaner or more efficient delivery of basic services of
energy, water and waste.
These markets are expanding rapidly, as business and political
leaders encourage the
development of cleaner products and services in response to the
increasing pressures
placed on the environment.
Impax's dedicated team of professionals, with many years of
experience in the financial and
environmental sectors, is ideally placed to understand and take
advantage of the
investment opportunities arising from the fast growing
environmental markets. Impax Asset
Management (the trading entity of Impax Group manages over
£1.2 billion of assets for
institutional and private investors, across a range of listed and
private equity funds.
For further information please visit: www.impax.co.uk
Media Enquiries
David Hopkins
Carbon International
david.hopkins@carboninternational.com
+44 (0)207 483 7202
Media Enquiries
Samantha Hill
Carbon International
samantha.hill@carboninternational.com
+44 (0) 207 483 7205
