IMPAX Asset Management Group has recorded growth across the board in its audited results for the year ended 30 September, the company announced yesterday.
The London-based firm increased assets under management (AuM) by 21 per cent to £2.8bn and saw its revenues rise to £20.4m, from £18.5m last year.
The British asset manager also saw its profits before tax jump £100,000 to £3.5m, and operating earnings rise to £5.3m, from £4.3m the previous year.
Peel Hunt analyst Stuart Duncan was bullish on the company’s outlook: “Impax’s figures this morning highlight the impressive growth that the business is delivering. Higher AuM is translating into increased profitability, with the momentum continuing into the current year. We believe Impax deserves a higher rating, and therefore reiterate our buy recommendation.”
Impax chairman Keith Falconer said: “It is pleasing to report several milestones this year: the addition of a sustainable property capability in response to strong investor demand for this real asset class, [and] a 25 per cent growth in our AuM.”