星期二, 22 7 月, 2025
Home PV News Impax sees higher profit as green energy draws investors

Impax sees higher profit as green energy draws investors

Environmental investment manager Impax Asset Management Group Plc expects its revenue and profit to increase in the second half as more investors put money in alternative energy following the unrest in the Middle East and the nuclear crisis in Japan.


Impax, which focuses on the alternative energy, water treatment and waste management industries, said assets under management and advisory (AUM) rose to 2.36 billion pounds ($3.89 billion) at March-end from 1.82 billion pounds at September-end.


AUM rose further to 2.37 billion pounds at April-end.


"Over the next six to nine months, we would be confident of further inflows into our funds," Impax CEO Ian Simm said in an interview with Reuters.


Brokerage Peel Hunt said the environment asset management market is growing rapidly and the Fukushima nuclear power plant disaster is likely to prompt further investment in clean energy.


Germany plans to shut all of its nuclear reactors by 2022, while China has placed an emphasis on renewable energy in its five-year plan. 


"The stock is exposed to structural growth trends driven by environmental policy yet the valuation languishes … The stock appears to have been overlooked by the market and this provides a buying opportunity," Peel Hunt said.


October-March pretax profit was up at 2.1 million pounds, compared with 1.7 million pounds a year ago. Revenue in the first half rose 56 percent to 9.9 million pounds.


Impax shares, which have gained about 10 percent over the past six months, were trading up 1.6 percent at 64.75 pence at 0904 GMT on Thursday on the London Stock Exchange.

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