2nd Dec 2021 11:09
(Alliance News) - Impax Asset Management Group PLC seized the global sustainability drive to post a bumper annual performance as the green investor more than doubled its dividend on Thursday.
Impax shares jumped 3.0% to 1,390.00 pence each in London on Thursday morning.
The London-based investor focused on the transition to an environmentally sustainable economy said assets under management at September 30 increased 84% to GBP37.2 billion from GBP20.2 billion.
Pretax profit leapt to GBP40.2 million in the 12 months ended September 30, multiplied from just GBP13.7 million a year before. This was helped by revenue which came in at GBP143.1 million from GBP87.5 million.
Diluted earnings per share tripled to 30.3 pence from 10.5p.
Chair Sally Bridgland said: "Against any measure this has been an excellent year for the company, and I have been inspired by the team's ongoing dedication and delivery to our clients. We have expanded to ensure that we have the necessary resources to match ever-increasing client demand. By the end of the Period the team had grown by 24%, with hires across the investment management, client services and corporate services teams."
The stellar performance led to a hefty dividend increase. A final dividend of 17p was declared, up from 6.8p, bringing the year's total payout to 20.6p. This dwarfed last year's total payout of 8.6p.
Looking ahead, Chief Executive Ian Simm said: "Impax continues to be well positioned to benefit from many regulatory, policy, market, and investor tailwinds. We believe that the focus on climate change at COP26 and the post-pandemic fiscal boost will help catalyse further investment in companies benefitting from the transition to a more sustainable economy."
By Greg Roxburgh; [email protected]
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