Impax Asset Management said assets under management (AUM) fell four per cent for the full year, but expects operating earnings to be in line with market forecasts.

The AIM-listed investment manager said AUM fell to £1.819bn at August 31st 2012 from £1.896bn at September 30th 2011.

Positive investment returns (net of currency movements) of £55m have been offset by net outflows of £132m.

Overall, Impax expects operating earnings to be broadly in line with market expectations.

The group said it has recently completed the expansion of its stock coverage to include the agriculture and food sector, and expects to launch a product in this area in the near future. It also continues to invest in its distribution capability in the US.

Chief Executive Ian Simm said: "The Impax team has continued to focus on delivering strong investment performance for clients while carefully extending our research coverage and distribution channels."

In a separate statement the group confirmed that it has bought back 3.5m shares under the group's programme to reduce the requirement to issue new shares to satisfy the exercise of options awarded under its Employee Share Option Plan.

The company's cash reserves stood at around £20m at August 31st 2012.


Shares of Africa-focused gold producer Goldplat surged after it said it would pay its first dividend following a hefty profit increase.

The AIM-listed company said pre-tax profit rose to £5.24m for the year ended June 30th 2012 from £3.43m the same time a year earlier. Operating profits jumped 48% to £4.53m during the period.

Gold production from Ghana and South Africa totalled 31,354 ounces and its net cash position increased to £4.57m at the end of June from £3.01m a year earlier.

Underlining the group's confidence in trading, Goldplat said it would pay a maiden dividend of 0.6p per share.

Chief Executive Officer Russell Lamming said: "With record profits of £5.24m before tax and gold production reaching 31,354 ounces, 2012 has been a truly exceptional year for Goldplat. In addition, the declaration of a maiden dividend represents a key milestone for the company and highlights the considerable progress made by Goldplat to date."

Looking ahead, Goldplat said it plans to maintain growth and seek new opportunities in Ghana and South Africa. The group will also report on developments at its latest gold recovery venture in Burkina Faso, which it believes will fit in well with existing recovery operations.

"We remain committed to developing our gold mining projects in Kenya (Kilimapesa Gold), Ghana (Amunso) and Burkina Faso (Nyieme). We aim to increase production at our first gold mine, Kilimapesa Gold, towards the 10,000 ounce mark over the next two years and delineate in excess of 1 million ounces of resources across our whole development portfolio by the end of the year," the group explained.

"With a robust treasury to support growth at our existing operations and fund future acquisitions, Goldplat looks set to hit its key targets."

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