Luxury car maker Aston Martin (
www.astonmartin.com) says it may float on the London stock market, completing a turn-round that has seen the firm boost its sales and profits.
The listing would be the first by a UK car maker for years, following the sale of brands such as Jaguar, Bentley and Rolls-Royce to foreign owners.
Analysts say the firm, which recently posted half-year profits of £42 million, would be worth up to £5 billion.
Its main shareholders are an Italian investment fund and Kuwaiti investors.
Aston Martin said in a statement that it would initially float a minimum of 25% of the company.
Chief executive Andy Palmer told the BBC that the plans were a “key milestone” in the history of the company — and that a luxury brand like Aston Martin was “impervious” to any trading uncertainties caused by Brexit.
The company has struggled for decades to make a profit, but under the guidance of Mr Palmer (a former Nissan executive), it has been broadening its product range and has moved into new areas; these include projects to build an electric flying car, luxury homes in the USA and a personal submarine.
Alongside the flotation announcement, Aston Martin also disclosed its first-half results, reporting an 8% year-on-year sales increase to £445 million for the six months to 30 June.
Mr Palmer said this performance was driven by its consulting business, as well as increased revenue from sales of its special-edition vehicles, including the Vanquish Zagato family and the DB4 GT Continuation models.
“These results show that we have continued to deliver sustainable growth, margins and value for our shareholders, while launching three new models and variants in the first half of the year.”
The company is to open a new factory at St Athan, Wales, in 2019.