Aston Martin back in profit as IPO move is weighed

Aston Martin returned to profit, and nearly doubled revenue, in the second quarter. The British luxury car-maker was buoyed by cost cuts and robust demand for its new, DB11 sports car.

Pre-tax earnings totalled £15.2m (€16.5m), compared with a £52.6m loss a year earlier, marking the third consecutive quarter that Aston Martin reported a profit. Revenue surged to £222m, from £119.2m, lifted by higher deliveries and selling prices, on the back of the DB11.

“There’s a possibility, an increasing possibility, that we might be able to report a profit on a full-year basis this year, already,” chief financial officer, Mark Wilson, said. Longer-term, the ramifications of Brexit on trade, and possible tariffs, remain difficult to predict, since the outcome of government talks on the UK’s departure from the EU is a “big unknown,” he said.