Aston Martin revs up forecasts for the second time this year

 
Helen Cahill
Follow Helen
FRANCE-CARS-JAMES-BOND
Aston Martin has been turned around by former Nissan executive Andy Palmer (Source: Getty)

Aston Martin has bumped up its forecasts for the second time this year following a record six months of profits.

The carmaker today announced a pre-tax profit of £21.1m for the six months to 30 June. During the same period last year the firm, known for its starring role in Bond movies, made a loss of £82.3m.

Demand for its high-end cars jumped 67 per cent to 2,439 vehicles, and the average price for its core set of vehicles rose 25 per cent to £149,000. Revenues nearly doubled to £410.1m

Read more: Aston Martin's first all-electric car will debut in 2019

In May, Aston Martin announced a first-quarter profit for the first time in a decade. The car firm made a pre-tax profit of £5.9m, recovering from a loss of £29.7m the year before. Revenue more than doubled to £188.3m. The company has declared bankruptcy more than seven times since it was established, but its sales over the past year have been helped by the launch of the DB11 model.

Andy Palmer, chief executive and president of Aston Martin, said: "Aston Martin is accelerating financially with our third successive quarter of pre-tax profit.

"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."

Related articles