Aston Martin Lagonda (AML) has told investors to expect a turbo finish to its current financial year following a slow start in its traditionally quieter first half.
The first quarter saw a 6 per cent rise in revenue, while cost increases associated with expansion plans contributed to the luxury car maker reporting a £2.2m adjusted operating loss, compared with a £22m profit in the same period last year.
Falling sales in the UK and Europe were offset by growth in the Americas and Asia Pacific. The company argues that achieving growth in the current tough trading environment “reaffirms its position as a luxury marque that offers some resilience to these wider automotive trends”. Stock levels and cash collection improved following dealership supply issues at the end of last year.
