SHARES DIVE AS FIRM’S SALES SINK 9%

LUXURY car-maker Aston Martin was plunged into fresh turmoil after losses ballooned, its finance chief quit and its share price crashed to a record low.

To make matters worse, the iconic firm warned the coronavirus crisis had hit its parts supply and demand from buyers in China.

Parent company Aston Martin Lagonda has had a disastrous time on the stock market since listing in October 2018.

Its share price dived another nine per cent yesterday as it announced annual losses had gone from £68million to £104million, with sales sinking by nine per cent. The firm, famed as the favourite car-maker of fictional spy James Bond, is undergoing a restructuring whereby a consortium led by billionaire Lawrence Stroll will buy up to 20 per cent of the business while other investors inject fresh funds. Andy Palmer, Aston Martin Lagonda president and group chief executive, said last year was “extremely challenging” but “we are focused on turning around performance”. Chief financial officer Mark Wilson will step down no later than April 30. Adam Vettese, an analyst at investment firm eToro, said: “The much-loved James Bond automaker has promised to ‘reset’ this year. It needs to do something – and quick – because the reality is Aston Martin is in real trouble and there are legitimate and growing fears for its future.”

Bond with a DB10 down 246.0 at 6796.4

Imperial Brands 1646.2 -43.8 International Airlines Grp. 515.4 -44.2 ITV 119.0 -3.8 Kingfisher 186.1 -10.3 Land Securities 863.6 -44.2 Legal & General 269.1 -19.6 Lloyds 50.4 -1.6 Marks & Spencer 159.1 -12.9 Morrison 170.1 -3.2 National Grid 1039.8 -8.4 Next 6216.0-294.0 Ocado 1080.5 -41.0 Pearson 569.4 -10.6 Prudential 1327.5 -95.0 Reckitt Benckiser 5841.0-258.0 RELX 1946.0 -48.0 Rentokil Initial 504.0 +8.4 Rio Tinto 3679.0 -233.5 Rolls-Royce 600.6 -16.0 Royal Dutch Shell B 1732.4 -53.6 Royal Mail 164.6 -6.3 RSA 535.0 +3.0 RBS 183.4 -9.7 J Sainsbury 194.1 -9.4 SSE 1570.5 -41.5 Severn Trent 2561.0 -28.0 Serco 152.0 -5.8 Smith & Nephew 1828.0 -11.5

Oil = $52.24

Smiths WH Stagecoach Standard Chartered Standard Life Aberdeen TalkTalk Taylor Wimpey Tesco Unilever United Utilities Vodafone Reach PLC 2002.0 134.0 570.6 284.9 110.2 205.3 231.0 4321.0 976.4 141.1 158.4 -118.0 -1.5 -21.0 -16.5 -3.0 -7.1 -10.4 -65.5 -24.6 -5.2 -7.6