Aston Martin has revised its profit forecast upwards for the second time this year, after a lucrative six months.
The British car-maker announced on Friday a pre-tax profit of £21.1 million for the six months to 30 June.
Demand for its luxury cars jumped 67 per cent to 2,439 vehicles, and the average price for its core models rose 25 per cent to £149,000. In particular, the launch of its DB11 model proved popular and helped stimulate sales.
As a result, revenues almost doubled to £410.1 million for the period.
Andy Palmer, chief executive and president of Aston Martin, commented on the buoyant performance: “Aston Martin is accelerating financially with our third successive quarter of pre-tax profit.
“Our improving performance reflects rising demand for our new DB11 model, as well as for special edition vehicles and the ongoing benefits from our ‘Second Century’ transformation plan.”
The car manufacturer, which is closely associated with the James Bond franchise, revealed its first quarterly profit in May – marking its first in over 10 years.
Back in May, there was speculation that the business was considering a public flotation on the back of its strong quarterly performance.
However, the company’s financial director Mark Wilson dismissed the claims:
“I don’t know when and if we will float,” he said, claiming it was a “matter for the owners”.
The Aston Martin business is currently owned by Kuwaiti and Italian private equity funds, who have controlling stakes in the business.
“A flotation is an entirely understandable proposition given that we are owned by private equity funds but it is not something that we have had recent discussions about, what we’ve been talking about is the long-term business as usual.”
Aston Martin have been manufacturing cars at its headquarters and main production site in Gaydon, Warwickshire, since 1913, on the site of a former RAF V Bomber airbase.