The company also signalled that it was willing to look at suitable acquisitions in the luxury car industry.

We are certainly going to look at acquisitions, but it really depends on what is out there.

Many, he said, were looking at strategic acquisitions.

Quantam looked at numerous acquisitions but was outbid in several cases.

"We will continue to look at potential acquisitions."

Bat agreed at once, although he had no interest in Mord's recent data acquisitions.

"You have to look at acquisitions on an individual basis," he said.

"We're a young, growing company," she said, "and we're looking at additional acquisitions."

They have to take a look at acquisitions the company has made and determine if any should be spun off.

They proved adept at acquisitions, doing 42 of them in 21 years.