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Aston Martin Hikes Outlook Again
British luxury carmaker Aston Martin Lagonda Ltd. has again raises its financial guidance as unit sales and revenue soar.
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British luxury carmaker Aston Martin Lagonda Ltd. has again raises its financial guidance as unit sales and revenue soar.
The company reports its pretax profit in the first half of 2017 swung to £21 million ($27 million) from a £82 million loss in the same period last year. Revenue nearly doubled to £410 million ($526 million).
Unit sales in January-June jumped by two-thirds to 2,400 vehicles, and the average selling price rose 25% to £149,000 ($191,200). Volume was aided by demand for Aston Martin’s flagship DB11 sports car.
In May the company raised its full-year outlook to adjusted revenue and earnings of at least £800 million ($1 billion) and £170 million ($218 million), respectively. Now the company anticipates revenue of £830 million ($1.1 billion) and adjusted earnings of £175 million ($225 million).
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