Aston Martin Announces Profit For The First Time In A Long While

Aston Martin hasn't been doing well fiancially for some time now, even to the extent that its future was put in doubt. But this year, their case is different as the British Automaker recently announced its first quarter results with a big smile on its face because the result shows that its revenue had more than doubled from $120 million (92.6 million GBP) to $244 million (188.3 million GBP) with its Pre-tax profits coming in at $7.64 million (5.9 million GBP), compared to last year’s losses of $38.5 million (29.7 million GBP).

So what's the secret?

The new DB11 takes credit as its strong sales in the U.K and China have boosted the profits of the company, with more than 3500 units already sold. This annoucement is a big deal because Aston Martin had suffered annual losses for the past six years and they have even gone bankrupt about seven times since it was founded in 1913.

In addition to the new DB11, Aston Martin launched its AMR line of high performance variants of existing models, as well as some special edition models, like the Red Bull Vantage S Racing Edition. We also just reported that Aston Martin is even considering an IPO sometime next year.

Dr. Andy Palmer, President and CEO of Aston Martin, stated that "The group has made a strong start to the year. We are delivering on our 'Second Century' transformation program and building sustainable profitability. Forthcoming models including the new Vantage and Vanquish will expand on our recent growth, underpinned by the financial resources and operational discipline of a true British success story in luxury car production."

Aston Martin plans to increase its DB11 sales by 30% before the end of the year.