Breakdown recovery firm and insurance broker has boosted its share price since June float

Breakdown recovery firm and insurance broker AA will publish its first-half results tomorrow.

These are the company’s first set of results since it floated on the London Stock Exchange on 23 June.

AA’s initial public offering was priced at 250p a share. Despite a drop shortly after flotation, the price is now higher – the share price closed at 291.50p on Friday.  

Before its flotation, AA was owned by private equity-backed holding company Acromas. Former sister company Saga has also floated on the stock market, making its debut on 23 May this year.

AA is the UK’s ninth-largest insurance broker, according to the 2014 edition of the Insurance Times Top 50 Brokers.