DB11 drives Aston Martin back into black in first half of year

Sports carmaker expects full-year volumes to rise by around a third to roughly 5,000 cars

 

Aston Martin reported its first half-yearly profit in almost a decade on Friday as sales of the new DB11 model put the luxury British carmaker on the road to recovery.

The 104-year old firm posted a record pre-tax profit of £21.1 million in the first six months of the year, its first since 2008, compared with a £82.3 million loss last year.

The carmaker expects full-year volumes to rise by around a third to roughly 5,000 cars and Wilson said it is “increasingly possible” that the firm will post a full-year pre-tax profit this year, which would be its first since 2010.

The automaker, owned mainly by Kuwaiti and Italian investors, is implementing a turnaround plan which could propel it towards a stock market flotation by the end of the decade. Following media speculation earlier this year, chief executive Andy Palmer said a number of options were open to shareholders but declined to provide a timeframe for any decision. “They could sell to other private equity, they could sell to other luxury groups, they could sell to other OEMs [carmakers]. They have a whole raft of possibilities, of which one is an IPO,” he said.

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