News

Profits soar at eco investor Impax

19 December 2007 09:03:00

Environmental markets focussed investment company Impax has doubled the funds under management and quadrupled pre-tax profits, prompting the shares to hit a high for the year.

The company said environmental markets are enjoying a buoyant phase, with high fossil fuel prices, uncharacteristic weather patterns and the heightened awareness of the damaging effects of pollution all contributing to demand for companies providing environmentally sound solutions.

Impax saw turnover for the year to 30 September soar to £7.1m from £3.8m, while pre-tax profit rocketed to £1.8m from £0.5m.

The company saw a substantial increase in funds under management, with the figure at 30 September standing at £984m, up from £434m at the same stage of 2006. Since the end of the reporting period the figure has broken through the billion pound barrier and stood at £1.09bn on 14 December.

The chairman, Keith Falconer, sounded a note of caution, saying the company’s business is not immune to the current market turmoil. “With this scenario in mind, we are pleased that many of our core clients are institutional investors who typically are able to take a medium to long-term view of the potential of our sector,” Falconer said.

“We now have a strong platform on which to extend our track record of building assets under management and profits, and I remain very confident that we can continue to grow shareholder value,” Falconer concluded.

All data suppied by Digital Look (15 minute delay)




Risk Warning

There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.