Aston Martin posts smaller-than-expected annual loss

Credit: REUTERS/ARND WIEGMANN

Feb 28 (Reuters) - British luxury carmaker Aston Martin AML.L said on Wednesday it was on track to hit its 40% gross profit margin target this year, after annual losses narrowed more than market expectations on higher prices.

The company reported an adjusted pretax loss of 171.8 million pounds ($217.36 million) for the year ended Dec. 31, compared with 451 million pounds a year earlier.

Analysts, on average, were expecting an adjusted pre-tax loss of 209 million pounds, according to a company-compiled consensus.

($1 = 0.7904 pounds)

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Subhranshu Sahu)

((Yadarisa.Shabong@thomsonreuters.com; +91 9742735150;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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