Aston Martin Holdings Ltd. surged to its third consecutive quarterly profit on robust demand for the new DB11 sports car, putting the U.K. automaker in a better position for a potential share sale even as Brexit clouds its longer-term outlook.
The company, whose high-end sports cars featured in James Bond films, has been eliminating jobs and and expanding its model range to reverse six years of losses. In a bid to follow a trail blazed by Italian rival Ferrari NV, the Gaydon, England-based carmaker could consider an initial public offering on the London Stock Exchange as early as next year, people familiar with the matter said in May.
A stock sale is ?a natural point of speculation? given Aston Martin?s ownership structure, Chief Financial Officer Mark Wilson said Friday in an interview. Any decision would have to be made by the closely held company?s shareholders and not the management board, he said, reiterating earlier comments. The carmaker?s owners include Italian private equity company Investindustrial SpA and a Kuwaiti investment consortium, while Mercedes-Benz parent Daimler AG owns a small stake. Aston Martin posted pretax earnings for the second quarter after delivering more autos and charging customers more for them, and ?there?s a possibility, an increasing possibility, that we might be able to report a profit on a full-year basis this year already,? Wilson said. At the same time, government talks on the U.K.?s exit from the European Union pose ?a big unknown?...