Aston Martin reports record half-year profits

Revenue doubles as Aston Martin reports record profits – thanks in part to new DB11 sports car

Aston Martin DB11 - front

British sports car maker Aston Martin has reported record half-year profits, thanks to a sharp rise in wholesale deliveries. The company’s revenue almost doubled year-on-year in the first six months of 2017, as demand for its cars increased. 

Pre-tax profits of £21.1m (up to 30 June) were welcomed by CEO Andy Palmer - reversing an £82.2m loss in the same period in 2016. Revenue increased from £211.8m to £410.4m, while whole volumes rose by 67 per cent. A total of 2,439 vehicles were delivered, with an average selling price of £149,000 – a 25 per cent increase year-on-year.

High demand for the new DB11, along with continued strong sales of the V12-engined Vanquish and Vantage S models, helped the maker record its best six months ever, while the sell-out success of special edition models like the Vantage Zagato also contributed to the numbers. Continued development of the forthcoming Valkyrie hypercar should ensure future prosperity, along with the hotly anticipated DBX electric SUV.

“Aston Martin is accelerating financially with our third successive quarter of pre-tax profit,” Palmer said. “Our improving performance reflects rising demand for our new DB11 model, as well as for special edition vehicles and the ongoing benefits from our Second Century transformation plan.”

Mark Wilson, Aston’s executive vice president and chief financial officer said: ““The strength of our first-half results prove that our strategy is on track. We exceeded our budget for the tenth consecutive quarter, giving us confidence that we will deliver a step-change in full-year performance.”

Are you surprised to see Aston Martin reporting record profits? Let us know in the comments below…

Recommended

Mercedes to increase Aston Martin share holding to 20% as part of new deal
Aston Martin

Mercedes to increase Aston Martin share holding to 20% as part of new deal

Aston Martin to take further technologies from Mercedes in return for further shares in the financially battered British company
27 Oct 2020
New £765,000 Aston Martin V12 Speedster put through paces before 2021 launch
Aston Martin V12 Speedster - front
Aston Martin

New £765,000 Aston Martin V12 Speedster put through paces before 2021 launch

British brand’s Q Division using prototype of the 690bhp Aston Martin V12 Speedster supercar to complete the final touches
7 Oct 2020
New Aston Martin AMR-C01 sim racing rig revealed
Aston Martin

New Aston Martin AMR-C01 sim racing rig revealed

Brand’s first venture into sim racing comes in the dramatic shape of a carbon-bodied rig running Assetto Corsa
14 Sep 2020
Aston Martin DB5 Goldfinger: specs, gadgets and review
Aston Martin

Aston Martin DB5 Goldfinger: specs, gadgets and review

We’re given a Q branch-style briefing on the £3.3million Aston Martin DB5 Goldfinger, and then we take if for a drive
9 Sep 2020

Most Popular

New 2020 Volkswagen Golf GTI Clubsport turns up the wick to 296bhp
Volkswagen Golf GTI Hatchback

New 2020 Volkswagen Golf GTI Clubsport turns up the wick to 296bhp

The new Volkswagen Golf GTI Clubsport adds more power and gets an aero overhaul
13 Oct 2020
New Land Rover Discovery Sport PHEV 2020 review
Land Rover Discovery Sport

New Land Rover Discovery Sport PHEV 2020 review

The Land Rover Discovery Sport P300e plug-in hybrid promises 135mpg and an all-electric range of 38 miles, but does it deliver?
21 Oct 2020
Car exhaust smoke explained
British Steam Car
Tips & advice

Car exhaust smoke explained

Is your car suffering from a smoky exhaust? Our troubleshooting guide tells you the causes and what you need to do to fix it
22 Oct 2020