{"id":28524,"date":"2023-06-28T05:02:54","date_gmt":"2023-06-28T09:02:54","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/aston-martin-aims-to-hit-adjusted-profit-revenue-targets-by-2024-25-says-ft\/"},"modified":"2023-06-28T05:02:55","modified_gmt":"2023-06-28T09:02:55","slug":"aston-martin-aims-to-hit-adjusted-profit-revenue-targets-by-2024-25-says-ft","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=28524","title":{"rendered":"Aston Martin aims to hit adjusted profit, revenue targets by 2024-25, says FT"},"content":{"rendered":"
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\u00a9 Reuters. The Aston Martin logo is seen on a V12 Vantage car at the company\u2019s factory in Gaydon, Britain, March 16, 2022. Picture taken March 16, 2022. REUTERS\/Phil Noble\/FILE PHOTO<\/span>
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(Reuters) -Aston Martin Lagonda has forecast it would hit targets of 500 million pounds ($635.85 million) in adjusted profit and 2 billon pounds in revenue by 2024-2025, the Financial Times reported on Monday.<\/p>\n

The luxury carmaker, which had the capacity to sell 10,000-15,000 models a year, will likely sell “maybe 17 (thousand) at its peak in years to come,” FT quoted Aston Martin Executive Chairman and top shareholder Lawrence Stroll as saying.<\/p>\n

Aston Martin is set to drop official targets for sales when it sets out mid-term targets on Tuesday, and will focus instead on cash flow, margin improvements and revenue targets, according to the newspaper.<\/p>\n

Stroll’s forecast comes as the British company on Monday reached a deal that will give U.S. electric vehicle (EV) maker Lucid Group a 3.7% stake in return for access to its “high performance” technology.<\/p>\n

In March, Aston Martin said that it expects profitability to improve this year and to turn free cash flow positive in the second half as it begins deliveries of its next-generation sports cars in the third quarter, forecasting wholesale volumes of about 7,000 units for 2023.<\/p>\n

The carmaker, without commenting on the FT report, said it would update investors on performance against its targets at the company’s capital markets day on Tuesday.<\/p>\n

($1 = 0.7863 pounds)<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. The Aston Martin logo is seen on a V12 Vantage car at the company\u2019s factory in Gaydon, Britain, March 16, 2022. Picture taken March 16, 2022. REUTERS\/Phil Noble\/FILE PHOTO (Reuters) -Aston Martin Lagonda has forecast it would hit targets of 500 million pounds ($635.85 million) in adjusted profit and 2 billon pounds in […]<\/p>\n","protected":false},"author":1,"featured_media":657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-28524","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nAston Martin aims to hit adjusted profit, revenue targets by 2024-25, says FT | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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