Soaring sales in the UK and China were not enough to stop shares falling again at Aston Martin this morning, as it boosted revenue and profits in its first results as a public company.
Third quarter revenue grew an impressive 81 per cent year on year to £282m as car sales doubled to 1,776.
Meanwhile profit before tax grew to £3.1m, up from just £300,000 in the same period in 2017.
Adjusted earnings, Aston Martin’s preferred profit metric, grew to £54m, up from £28m in the three months to the end of September.
Net debt grew 12 per cent to £522.8m while cash flow grew 20 per cent to £86.7m.
Why it’s interesting
Shares slipped another five per cent in early morning trading after the luxury car maker posted its first results since its stock market debut in October.
Since Aston Martin’s IPO on the London Stock Exchange at 1,900p per share, its stock has fallen to 1,522p per share.
That comes despite Aston Martin crediting its revenue boost with rising demand from China, where sales more than doubled as its latest DB11 and Vantage models hit the road, while sales grew by two-thirds in the UK.
More to follow.