Tuesday, 27 February 2018

Aston Martin roars back into the black with £87m profit

Aston Martin, James Bond's car maker of choice, sold just over 5,000 vehicles last year, allowing the firm to post its first annual profit since 2010.

The British sports car producer made a pre-tax profit of £87m last year, compared with a £163m loss in 2016.

Its flagship DB11 coupe proved popular with buyers, helping drive its sales tally to a nine-year high, Aston Martin said.

It also confirmed it is considering a stock market listing.

Revenue jumped 48% to £876m.
Boss Andy Palmer, who took over in 2014, has pursued a turnaround plan intended to broaden Aston Martin's model range, quadruple volumes and make its first SUV at a new plant in Wales.

He said the new models would result in output rising "significantly" above 5,000 cars in 2018.

"I would expect the factory to be max-ing out in terms of its production capability towards the second half of the year."

BBC      News.