(Facebook.com)
Monday, November 27, 2017
It's Not What They're Saying About Their Financial Status
Aston Martin will make a profit for the first time since 2010
Good news heading into a probable IPO next year.
LONDON — Aston Martin is on course to post its first annual pre-tax profit since 2010 as strong demand for the luxury automaker's DB11 sports car boosts its performance.
Pre-tax profit reached 22 million pounds ($29 million) in the first nine months of 2017, reversing a loss of 124 million pounds in the same period in 2016, Aston said on Wednesday.
"Our strong financial performance and continued profitability reflect the growing appeal of our high-performance sports cars, with the new DB11 Volante and a new Vantage expected to stimulate further demand in the coming year," Chief Executive Andy Palmer said.
Asked on Monday whether the firm would be in the black this year, Palmer told Reuters: "It's our intention to be."
(AutoBlog.com)
Good news heading into a probable IPO next year.
LONDON — Aston Martin is on course to post its first annual pre-tax profit since 2010 as strong demand for the luxury automaker's DB11 sports car boosts its performance.
Pre-tax profit reached 22 million pounds ($29 million) in the first nine months of 2017, reversing a loss of 124 million pounds in the same period in 2016, Aston said on Wednesday.
"Our strong financial performance and continued profitability reflect the growing appeal of our high-performance sports cars, with the new DB11 Volante and a new Vantage expected to stimulate further demand in the coming year," Chief Executive Andy Palmer said.
Asked on Monday whether the firm would be in the black this year, Palmer told Reuters: "It's our intention to be."
(AutoBlog.com)
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