Aston Martin to list on stock exchange

Aston Martin has long been the choice of car for James Bond. Pic: PA Wire/MGM
Aston Martin has long been the choice of car for James Bond. Pic: PA Wire/MGM
0
Have your say

British carmaker Aston Martin has announced plans to float on the London Stock Exchange.

The company said prospectus, including full details of the initial public offering, would be published around September 20.

Aston Martin said registration documents submitted to City regulator the Financial Conduct Authority (FCA) are expected to be published later today.

The company made the announcement alongside its first half results, which showed revenues rose 8 per cent year-on-year to £445m for the six months ended June 30 2018 and a 14 per cent increase in adjusted underlying earnings to £106m, compared with £93m in the same period last year.

It said the 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 DB4 GT Continuation models.

Andy Palmer, Aston Martin Lagonda’s president and chief executive officer, said: “Today’s announcement represents a key milestone in the history of the company, which is reporting strong financial results and increased global demand for its award-winning sports cars.

“As we continue to execute our Second Century Plan, combining a product offensive and expanding manufacturing footprint, we have the resources and balance sheet strength to continue delivering on our growth strategy.

“Today’s results show that we have continued to deliver sustainable growth, margins and value for our shareholders whilst launching three new models and variants in the first half of the year.”

He also cheered the implementation of the company’s strategy, which includes the opening of a new plant in St Athan in Wales in 2019.