With sales topping 5,000 last year, Aston Martin cruised back into the black for the first time in almost a decade.
The British sports car manufacturer founded in 1913 by Lionel Martin and Robert Bamford, made a pre-tax profit of £87m, compared with a £163m loss in 2016.
Sales jump with redesigned Aston Martin DB11
Revenue jumped by almost 50 per cent to £876m, largely due to sales of the newly redesigned DB11 which was unveiled at the Geneva motor show in 2016 – it was the first DB range redesign in 13 years.
The figures posted represent the company’s first annual profit since 2010 and prompted speculation of an imminent stock market listing.
Boss Andy Palmer, who took over in 2014, plans to extend Aston Martin’s model range, increase sales four fold and make its first SUV.
He said the range would see output rise “significantly” in 2018.
Aston Martin has “range of strategic options”
He said: “I would expect the factory to be maxing out in terms of its production capability towards the second half of the year.
“We’ve now been asked to consider a range of strategic options for the future of the group – and one of those options of course is an IPO (initial public offering).”
He added that Aston Martin was applying to have the new Vantage licensed by a regulator within the European Union rather than in the UK due to uncertainty about Brexit.
DB5’s 007 role boosted desirability of Aston Martin cars
Aston Martin became famed for producing grand touring cars in the 1950s and 1960s, and earned a significant commercial boost when 007 James Bond used a DB5 in the 1964 film Goldfinger.
Regarded as a British cultural icon, Aston Martin has held a Royal Warrant as purveyor of cars to HRH the Prince of Wales for almost 40 years.
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