Impax Group announce interim results

Robust financial performance in spite of difficult market conditions

Impax Group plc ("Impax") the AIM quoted investment manager which focuses exclusively on the environmental sector, today announced its interim results for the six month period ended 31 March 2009.


  • Robust financial performance in spite of difficult market conditions. Turnover, which included £945,620 of exceptional, non-recurring fees, increased to £5,452,373 (from £4,922,608 in the corresponding period last year).
  • Net profit before tax of £1,315,580 (from £1,592,343 in the corresponding period last year). The reduction reflects the impact of extra costs associated with extending Impax's platform to support future growth.
  • Assets under management and advisory ("AUM") declined from a value of £1,098 million on 30 September 2008 to £889 million on 31 March 2009 due to weak equity markets, but recovered to £986 million by 30 April 2009.
  • Over five years, Impax Environmental Markets plc ("IEM"), the largest "pure play" fund that Impax manages has outperformed its benchmark, returning 29% in the period, while the MSCI World Total Return Index has returned 11%.

Commenting on the results, Keith Falconer, Chairman of Impax Group plc said:

"The prospects for the sectors in which we invest have strengthened considerably in recent months. When inflows resume into equity funds, it is highly likely that there will be increased allocations to the environmental sector and that Impax, as the UK's leading specialist environmental investment manager with a strong team and long term track record, will benefit accordingly."

"I am pleased to report that, by focusing on investment performance, maintaining frequent communication with investors and keeping tight control of costs, our business has remained robust and is well positioned for further expansion."

To read the full report please click here.

Copies of the interim results for the six months ended 31 March 2009 will be sent to shareholders shortly. Copies will also be available on the Company's website and may be collected from the Company's registered office; Mezzanine Floor, Pegasus House, 37-43 Sackville Street London W1S 3EH.

About Impax Group plc:

Impax Group plc ("Impax"), which is quoted on the Alternative Investment Market of the London Stock Exchange, 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.

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 sector. Impax Asset Management (the trading entity of Impax Group) manages assets for institutional and private investors, across a range of listed and private equity funds.

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