Aston Martin gears up for more growth ahead of possible flotation.
After 6 years of losses, the UK sports-car maker made a substantial pretax profit in 2017, fueling speculations of potential stock market listings’. Finance officials this week have said that the decision would rely on shareholders, mainly Italian private equity fund invest-industrials’ and a group of Kuwaiti investors. Finance officials have highlighted the value of the firm is also at roughly £4 billion.
Aston Martin is said to have boosted their investment by nearly a half, to 68 million pounds ahead of the launch of a series of new models as it underwent a changeover plan that saw sales fall by 20% to 963 vehicles in the quarter. Following the rest of the automotive sector, the company will also be pushing ahead with plans for hybrid and electric models to meet new emission guidelines and upcoming ban on new gasoline and diesel cars from 2040 in Britain.
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(source information: europe.autonews.com | www.reuters.com | www.sharenet.co.za | www.7amheadlines.com)