Shares in Aston Martin surged 6% this morning on the news that the British sports car firm comfortably surpassed investor expectations in the first half of 2023.
The company's latest financial report reveals that it boosted revenues by 25% year-on-year in the first half of 2023, accompanied by a 38% hike in pre-tax earnings.
The firm also slashed its net debt from more than £1 billion to £846 million, but pre-tax losses climbed slightly to £142m - which the firm attributes to increased Valkyrie production, new product launches and inflationary pressures.
The uptick comes following a turbulent few years for the Gaydon-based company, and has been announced a year after Aston announced plans to raise £653m to safeguard its future - since achieved with new funding from Saudi Arabia's Public Investment Fund, chairman Lawrence Stroll's Yew Tree consortium, Mercedes-Benz and Chinese auto giant Geely.
