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Aston Martin races past second quarter expectations
  + stars: | 2023-07-26 | by ( Yadarisa Shabong | ) www.reuters.com   time to read: +2 min
[1/2] FILE PHOTO-Employees work on a car at the Aston Martin factory in Gaydon, Britain, March 16, 2022. Aston Martin kept its 2023 forecast for volumes of about 7,000 vehicles and an adjusted core profit margin of about 20%. Aston Martin reported an adjusted operating loss of 38.9 million pounds ($50.2 million) and revenue of 381.5 million pounds in the quarter to June. Analysts on average had expected an adjusted operating loss of 51 million pounds on revenue of 344 million pounds, according to a company-compiled consensus. Aston Martin said it was also on track to meet its medium-term financial targets.
Persons: Aston Martin, Phil Noble, Amedeo Felisa, Felisa, JP Morgan, James Bond's, China's Geely, Yadarisa, Savio D'Souza, Mark Potter Organizations: Aston, REUTERS, HK, Lucid, Thomson Locations: Gaydon, Britain, Bengaluru
[1/2] An Aston Martin logo is seen at a dealership in central London, Britain August 29, 2018. REUTERS/Henry NichollsNov 2 (Reuters) - British luxury carmaker Aston Martin (AML.L) on Wednesday warned that higher costs from global supply chain and logistical disruptions would hurt its margins, and lowered its wholesale delivery volume outlook for 2022. "Whilst (supply chain issue) has created short-term impacts on our performance, I am confident that with the actions we are taking, we will exit the year in a stronger position to deliver on our goals for 2023 and beyond," Chief Executive Officer Amedeo Felisa said. The London-listed company now expects to deliver 6,200-6,600 vehicles this year from more than 6,600 vehicles forecast earlier. Reporting by Pushkala Aripaka in Bengaluru; Editing by Dhanya Ann Thoppil and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
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