(Alliance News) - Foresight Group Holdings Ltd on Tuesday said that its revenue had jumped up, and that its assets and funds under management had boosted in a strong year.

Foresight, a Guernsey-based infrastructure and private equity investment manager, said its revenue in the year ended March 31 increased by 38% to GBP119.2 million from GBP86.1 million the prior year.

Assets under management at March 31 climbed by 38% to GBP12.2 billion from GBP8.8 billion the year before, whilst funds under management were up by 35% to GBP9.0 billion from GBP6.7 billion year-on-year.

Foresight said this was "exceptional growth" and "well in excess of our target".

"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," said Executive Chair Bernard Fairman.

The company declared a final dividend of 15.5 pence per share for its financial year from 9.8p per share last year.

The total dividend was 20.1 pence per share, a 46% increase from 13.8p per share.

Executive Chair Fairman said: "The market opportunity for Foresight is very significant. Our infrastructure strategies cover the whole spectrum of renewable energy generation, transition and wider economic decarbonisation.

"Despite current uncertainty in the markets, remain confident in the ability of our diversified business model to deliver profitable growth in Financial 2024."

The company said that as of June 30, both assets under management and funds under management were marginally lower at GBP12.0 billion and GBP8.8 billion respectively.

Shares in Foresight were down 2.5% at 424.05 pence in London on Tuesday morning.

By Will Neill, Alliance News reporter

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