Aston Martin says quarterly loss rose to £90.1m

Aston Martin Lagonda said Wednesday that its second-quarter loss after tax rose by almost one third to £90.1 million, or $120 million, as higher debt costs offset increased revenue.

The British luxury carmaker said revenue in the April-June period rose 62 percent from a year earlier to £358.2 million. It sold 1,392 cars in the quarter, up 43 percent year-on-year.

Chief executive Adrian Hallmark said in the earnings statement that the results showed Aston Martin was on track to deliver “material financial improvement” this year.

Aston Martin last week announced fresh loans worth £550 million. Hallmark said the financing strengthened liquidity and gave the company more flexibility for current and future product plans.

The company's net debt rose 12 percent to £1.54 billion in the second quarter, while financing costs increased. Aston Martin, which has also been affected by US tariffs and weak Chinese demand, said in February that it planned to cut 20 percent of its workforce. It expects to employ about 2,400 mostly UK-based staff after the cuts by the end of 2026.