The Aston Martin DB11 car during the Geneva Motor Show on 8 March 2017. Photo: ReutersFrankfurt: Aston Martin Holdings Ltd surged to its third consecutive quarterly profit on robust demand for the new DB11 sports car, putting the UK automaker in a better position for a potential share sale even as Brexit clouds its longer-term outlook. Generating positive cash flow might take slightly longer than returning to profit, even though Aston Martin made substantial progress in the first half of the year, the CFO said. Second-quarter pretax profit totalled £15.2 million ($19.6 million) compared with a £52.6 million loss a year earlier, as revenue almost doubled to €222 million, Aston Martin said in a statement. Full-year adjusted earnings before interest, taxes, depreciation and amortization will amount to £175 million, it said, compared with an earlier £170 million forecast.

Source: Mint August 27, 2017 14:15 UTC