Impax Asset Management FY Pre-tax Profit Rises

Impax Asset Management Group plc reported that its profit before tax for the year ended 30 September 2022 rose 58.6% to 72.6 million pounds from the prior year's 45.7 million pounds.

Profit after taxation for the year was 59.48 million pounds up from 40.25 million pounds in the previous year. IFRS earnings per share increased to 44.7 pence from 30.3 pence last year.

Adjusted earnings per share increased by 22.4% to 42.1 pence from the prior year.

Assets under management or "AUM" decreased by 4.1% to 35.7 billion pounds compared to 37.2 billion pounds in 2021. As of 31 October AUM had recovered to 37.4 billion pounds.

Revenue increased 22.6% to 175.4 million pounds from last year, driven by the positive net inflows across the business seen in the current and prior year offset in part by market falls during the Period.

The Board now recommends paying a final dividend for 2022 of 22.9 pence a total for the year of 27.6 pence, an increase in the total dividend of 34% on 2021.

The company noted that Karen Cockburn will become Chief Financial Officer, succeeding Charlie Ridge, in January 2023.

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