Aston Martin revving up for London flotation

Half year pre-tax profits rose to �20.8m over the six months to June 30
Half year pre-tax profits rose to �20.8m over the six months to June 30

British sports car maker Aston Martin has confirmed it is exploring plans to float on the London Stock Exchange.

The manufacturer of luxury cars - best known for appearing in the James Bond films - said it was “announcing its potential intention to undertake an initial public offering (IPO)”, ending months of speculation about its plans to go public.

Aston Martin will float at least 25% of its shares in the listing if its plans go ahead, and could join the blue chip FTSE 100 if the company’s valuation is adequate.

The company could be valued as high as £5 billion once it goes public, according to reports.

The announcement was made alongside the company’s half year financial results, which showed pre-tax profits edging higher to £20.8 million over the six months to June 30, from £20.3m during the same period last year.

On an underlying basis, adjusted earnings rose 14% to £106m.

That was against an 8% jump in revenues from £410.3 to £444.9m.

It said the performance was driven by its consulting business and increased revenue from sales of its special edition vehicles, including the Vanquish Zagato family and DB4 GT Continuation models.