ASTON STEERS DEEPER INTO THE RED
ASTON Martin drove deeper into the red last year as it stepped up investment in new vehicles and technology.
The James Bond carmaker’s £58.3million operating loss, up from £18.4million the previous year, was also partly due to £30.2million of impairment charges as it wrote off the value of old products. Product development spending increased by 40 per cent to £161million.
Sales edged lower from 3,661 to 3,615, but annual revenue rose 8.9 per cent to £510.2million as the company increased the price of its upmarket sports cars by an average 8 per cent.
Chief executive Dr Andy Palmer said it had significant resources “to deliver the Aston Martin transformation”.