Aston Martin narrows losses as sales motor

Luxury car maker Aston Martin Lagonda narrowed losses and maintained annual guidance as strong demand boosted revenue.

The company posted an interim pre-tax loss of £142m for the six months to June 30 compared with a loss of £285.4m a year earlier. Wholesale volumes rose 10% to almost 3,000 vehicles with revenue up 25% to £677m.

“We remain well on track to achieve our medium-term financial targets of £2bn revenue and £500m adjusted EBITDA by 2024/25. The company expects to substantially achieve these financial targets in 2024 and, with continued strong momentum, is likely to exceed them in 2025,” Aston Martin said.

Reporting by Frank Prenesti for Sharecast.com