Foresight has reported a 58% increase in earnings before interest, tax, depreciation and amortisation (EBITDA) to £50m in its results for the financial year ended 31 March 2023 (FY23).
The company saw “exceptional growth” of 38% and 35% in assets under management (AUM) and funds under management (FUM) in FY23 to £12.2bn and £9bn respectively, well in excess of its target, stated Foresight.
In FY23 revenue rose 38% to £119.2m.
Bernard Fairman, Executive Chairman of Foresight Group Holdings Limited, said: “This was a record year of highly profitable growth for Foresight, which saw the Group extend its excellent track record of delivering against ambitious growth targets and materially increasing shareholder returns with a very significant increase to the dividend.
“We are now focused on further organic growth and have a strong pipeline of fundraising across asset classes scheduled for this year and beyond.
“This includes established strategies such as ARIF and FEIP, alongside new opportunities such as core European renewables and our expansion into adjacent asset classes such as hydrogen.
“We also continue to assess the market for accretive M&A opportunities, although the timing of these remains unpredictable.
“The market opportunity for Foresight is very significant. Our infrastructure investment strategies cover the whole spectrum of renewable energy generation, transition and wider economic decarbonisation.
“This positions us well to support the broader energy transition by investing in real assets that are driving this change.”