Aston Martin suffers £79m loss after £21m profit

Time 10:05 am, July 31, 2019

LUXURY carmaker Aston Martin Lagonda has swung to a £78.8 million pre-tax loss in its first half as it said the ‘more challenging global’ economy was affecting the firm.

The group’s loss for the six months to June 30 compares with a profit of £20.8m a year earlier, it announced today.

Aston Martin – which floated last October at £19 – said interim revenues fell four per cent to £407.1m amid slowing sales conditions in Britain and Europe.

The figures come a week after a shock profit warning from Aston Martin, which saw its stock market value halve. Shares in Aston Martin plummeted another 18 per cent today to 464.10p.

Chief executive Andy Martin said: ‘We are disappointed that our projections for wholesales have fallen short or our original targets impacted by weakness in two of our key markets as well as continued macro-economic uncertainty.’

MORE: Aston Martin cuts forecasts as wholesale performance is hit

MORE: Aston Martin shareholder considers buying another three per cent stake

MORE: First Aston Martins roll off production line in Wales

Car Dealer Magazine's avatar

Car Dealer has been covering the motor trade since 2008 as both a print and digital publication. In 2020 the title went fully digital and now provides daily motoring updates on this website for the car industry. A digital magazine is published once a month.

More stories...

Motors Advert
Server 108