27th May 2021 12:12
(Alliance News) - Impax Asset Management Group PLC on Thursday doubled its interim payout amid a sharp rise in profit.
The investor, focused on the transition to sustainable economy, reported pretax profit for the six months to end March of GBP14.4 million, rising 80% from GBP8.0 million a year prior.
Revenue jumped 47% to GBP60.6 million from GBP41.2 million.
Assets under management doubled to GBP30.0 billion from GBP14.4 billion.
Chief Executive Ian Simm said: "Impax has made further excellent progress during the first half of its financial year. Notwithstanding the challenges imposed by the Covid-19 pandemic, the business has continued to grow, with assets under management and advice increasing by almost 50%, including GBP6.8 billion of net inflows.
"Amid rising interest in the transition to a more sustainable economy, our long track record and broad-based distribution capabilities and relationships have helped us to stand out from the crowd as we secured major new mandates, while also increasing significantly our business with many existing clients."
Impax declared an interim dividend of 3.6 pence per share, doubled from 1.8p a year ago.
Looking ahead, Simm said: "Over the next few years we expect the companies in which we invest to continue to prosper as markets for clean energy, resource efficiency and low-carbon technologies expand rapidly. Against this background, Impax is well positioned for further success."
Impax shares were down 3.5% at 1,066.88 pence each in London on Thursday.
By Greg Roxburgh; [email protected]
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