Impax Asset Management Group (IPX)

Sector:

Financials

Index:

FTSE AIM 50

327.00p
   
  • Change Today:
      7.00p
  • 52 Week High: 566.00p
  • 52 Week Low: 310.00p
  • Currency: UK Pounds
  • Shares Issued: 132.60m
  • Volume: 223,576
  • Market Cap: £433.59m
  • Beta: 1.51

Impax profits decline as revenue remains stable

By Josh White

Date: Wednesday 31 May 2023

LONDON (ShareCast) - (Sharecast News) - Impax Asset Management reported a rise in assets under management to £40.1bn at the end of its first half on Wednesday, from £38bn a year earlier, and £35.7bn in the second half of 2022, while its profits declined.
The AIM-traded firm said revenue for the six months ended 31 March totalled £88m, remaining relatively stable compared to £88.6m in the same period last year, and £86.8m in the second half.

It reported an adjusted operating profit of £27.3m, which was down from £34m year-on-year and £33.4m in the latter half of last year.

Shareholders' equity at the end of the period stood at £119.7m, an increase from £112.3m at the end of September.

Adjusted diluted earnings per share came in at 17.2p, down from 21.1p a year earlier and 21p at the end of the prior half-year.

Impax declared an interim dividend per share of 4.7p, consistent with last year's interim dividend.

The total dividend for the 2022 financial year, meanwhile, amounted to 27.6p.

"Impax has delivered a solid first half to its financial year, despite challenging macroeconomic conditions," said chief executive officer Ian Simm.

"Thanks to positive net flows and rising equities markets, our revenue grew compared to the second half of 2022, while adjusted operating profit fell, reflecting our investment in people and systems to support our growth strategy and to increase our operational resilience.

"We continue to carefully manage our costs in line with external market conditions and at the end of the period, our run-rate adjusted operating margin was 31.8%, only slightly lower than the equivalent figure at the start of the period, 32.6%."

Simm said Impax's approach positioned it well to benefit particularly from supportive policy and regulatory drivers, including the Inflation Reduction Act in the US and equivalent measures in Europe and Asia.

"Asset owners and advisers continue to be attracted to the investment opportunities arising from the transition to a more sustainable economy and, notwithstanding the current backdrop of weak market sentiment, our pipeline of new business remains healthy."

At 1123 BST, shares in Impax Asset Management Group were down 10.93% at 702.77p.

Reporting by Josh White for Sharecast.com.

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IPX Market Data

Currency UK Pounds
Share Price 327.00p
Change Today 7.00p
% Change 2.19 %
52 Week High 566.00p
52 Week Low 310.00p
Volume 223,576
Shares Issued 132.60m
Market Cap £433.59m
Beta 1.51

IPX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
58.03% above the market average58.03% above the market average58.03% above the market average58.03% above the market average58.03% above the market average
9.26% above the sector average9.26% above the sector average9.26% above the sector average9.26% above the sector average9.26% above the sector average
Price Trend
71.2% below the market average71.2% below the market average71.2% below the market average71.2% below the market average71.2% below the market average
76.79% below the sector average76.79% below the sector average76.79% below the sector average76.79% below the sector average76.79% below the sector average
Income
93.50% above the market average93.50% above the market average93.50% above the market average93.50% above the market average93.50% above the market average
69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average
Growth
1.22% above the market average1.22% above the market average1.22% above the market average1.22% above the market average1.22% above the market average
27.45% above the sector average27.45% above the sector average27.45% above the sector average27.45% above the sector average27.45% above the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 4
strong_buy
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IPX Dividends

  Latest Previous
  Interim Final
Ex-Div 13-Jun-24 08-Feb-24
Paid 19-Jul-24 22-Mar-24
Amount 4.70p 22.90p

Trades for 21-Nov-2024

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