Aston Martin considering flotation
Posted on 26 May 2017 and read 1487 times
Aston Martin (
www.astonmartin.com) , the luxury car-maker based in Gaydon, Warwickshire, is said to be considering a Stock Market float next year. The company says that it has undergone “a transformation” in the last couple of years, with its Second Century Plan creating “a strategy for growth that quickly began to show results”. Its 2016 revenues are expected to show an increase of around one-third to about £800 million when accounts are released shortly. These accounts are also expected to show a “greatly improved operational profitability”.
The company said that the progress it is making, along with the success of Ferrari’s IPO (initial public offering) in late 2015, has led it to consider its own float. This could take place as early as next year. Aston Martin has said it will bring a new model to market every nine months until 2020, adding that its expansion plans will be helped by the manufacturing plant being built in St Athan, Wales; this will be fully operational in 2019.
Simon Sproule, a spokesman for the company, said: “Aston Martin’s management are 100% focused on the delivery of our seven-year business plan. Any matters pertaining to the future structure or ownership of the company are a matter for our share-holders.”