Luxury British car manufacturer Aston Martin has today confirmed that it is intending to float on the London Stock Exchange, which could value it at £5bn.
The Gaydon-based manufacturer has also revealed revenue was up eight per cent year-on-year to £445m and adjusted underlying profits were £106m, an increase of 14 per cent for the six months ended 30 June.
The company expects production to reach between 6,200 and 6,400 cars in the second half of the year, and predicts strong growth driven by demand for new Vantage and DBS Superleggera models.
Aston Martin confirmed today that it plans to float on AIM, with analysts estimating a £4bn-£5bn valuation.
President and chief executive Andy Palmer 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.”
The growth in profits and announcement of floating are highly significant for the distinct British brand and the wider manufacturing sector as it shows the strength in British industry.