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Impax reports growth amidst “unprecedented” environmental concern

profits increaseLondon-based sustainable investment specialist Impax Asset Management enjoyed inflows of £1.4 billion (€1.6 billion) during a year of “unprecedented concern” about environmental issues worldwide.

In the 12 months to September end, Impax’s assets under management (AuM) grew 21% to £15.1 billion.

Net positive flows of over £0.5 billion during the first two months of the new financial year also contributed to AuM increasing to £15.7 billion by the end of November.

Founder and chief executive Ian Simm said: “The drivers behind the global economy’s transition to a more sustainable model are only increasing and we remain ideally positioned to benefit from this.”

Revenue increased 12% year-on-year to £73.7 million, whilst the firm also enjoyed a 29% rise of profit before tax to £18.9 million, compared to just under £15 million in 2018.

Shareholders also saw their equity rise by one fifth to £63.2 million. The firm has unveiled a new dividend policy with shareholders receiving an annual payout within a range of 55% and 80% of adjusted profit after tax under normal circumstances.

Chairman Keith Falconer said: "The last 12 months have seen unprecedented concern globally about environmental issues and rapidly expanding opportunities from the transition to a more sustainable economy. Against this backdrop it has been yet another strong year for Impax.”

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