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magazineImpax Asset Management continues to thrive
Impax Asset Management (IPX:AIM) 201.5p
Gains to date: 59.2%
Original entry point: Buy at 126.6p, 21 September 2017
Our confidence in this asset manager has paid off again with a share price rally following half year results to 31 March which were released on 7 June.
The company had already alerted the market to a 51% increase in assets under management to £11bn and further good news followed.
Impax more than doubled pre-tax profit year-on-year to £5.5m. This was from revenue that had risen by almost 85% to £25.7m.
It hiked its interim dividend by 57% to 1.1p per share and also declared a special dividend of 2.6p per share due to the performance of its second private equity infrastructure fund.
Chief executive Ian Simm says asset owners around the world are now seeking higher levels of exposure to ‘companes leading the transition to a more sustainable economy’ and his company is well placed for ‘further profitable growth’.
If you want to know more about Impax, come to our 20 June investor evening in London where the company will be presenting alongside three other UK-listed stocks. Tickets are free but advance registration is required: www.sharesmagazine.co.uk/events
Important information:
These articles are provided by Shares magazine which is published by AJ Bell Media, a part of AJ Bell. Shares is not written by AJ Bell.
Shares is provided for your general information and use and is not a personal recommendation to invest. It is not intended to be relied upon by you in making or not making any investment decisions. The investments referred to in these articles will not be suitable for all investors. If in doubt please seek appropriate independent financial advice.
Investors acting on the information in these articles do so at their own risk and AJ Bell Media and its staff do not accept liability for losses suffered by investors as a result of their investment decisions.
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