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Manufacturing

Aston Martin returns to black as it ponders IPO

º£½ÇÊÓÆµ car brand says it is considering a range of options for the Warwickshire group including a possible stock market flotation

Aston Martin has posted a pre-tax profit for the first time since 2010

º£½ÇÊÓÆµ sports car brand Aston Martin has moved out of the red and confirmed it would consider a stock market float.

The Warwickshire-based manufacturer said pre-tax profit hit £87 million in 2017, up from a loss of £163 million in 2016, making it the first time it has posted an annual pre-tax profit since 2010.

It also welcomed record revenue of £876 million, up by 48 per cent the previous year.

And chief financial officer Mark Wilson said the company was looking at a range of options for the group, including a possible initial public offering after rumours started to circulate about a flotation at the turn of the year.

The company sold 5,098 vehicles during 2017 in its wholesale markets which it said was its highest full-year sales volumes in nine years, driven principally by rising demand in North America, the º£½ÇÊÓÆµ and China.

Global retail sales increased by 58 per cent to 5,117 units up from 3,229 units in 2016.

Chief financial officer Mark Wilson said: "This has been another landmark financial year for Aston Martin, creating a solid foundation for future growth.

"As part of our ongoing development strategy, we continue to consider a range of strategic options for the future of the group, including the potential for an initial public offering.