LONDON (dpa-AFX) - Aston Martin Lagonda Global Holdings plc (AML.L), a British manufacturer of luxury sports cars, reported Thursday that its third-quarter loss before tax was 13.5 million pounds, compared to prior year's profit of 3.1 million pounds.
Operating profit declined 58 percent to 10.5 million pounds from 25.3 million pounds last year. Adjusted EBITDA was 47.7 million pounds, down 12 percent from 54.4 million pounds last year.
Revenue for the quarter increased 11 percent to 250.1 million pounds from 282.4 million pounds last year.
Total wholesale volumes declined 16 percent to 1.50 billion pounds from 1.78 billion pounds a year ago.
The company noted that tough trading conditions, particularly in the UK and Europe, persist and whilst retail sales have grown 13 percent year-to-date, wholesale volumes remain under pressure.
In the nine months, retails were up 13 percent with an improved market share in segment which itself is outperforming the wider auto industry.
Looking ahead, the company expects to meet market financial expectations for fiscal 2019 despite lower volumes and continuing macro uncertainties. The company said it is heading into the peak delivery period for both core and Specials.
The company said it sees pressure on volumes continuing into the end of the year and now expects total wholesales to be lower than previously guided, but within the range of market expectations.
In London, Aston Martin shares were trading at 432.90 pence, up 3.69 percent.
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