Morgan Motor Company announced record profits as it prepares to launch a range of vehicles in its 110th year. The iconic Malvern-based family-owned firm, which employs 204 staff, said profits jumped to £3.6million last year from £2million 12 months earlier. Output dropped from 750 to 681 cars as the firm said goodbye to the thirsty V8 engine and the Aero 8 and Plus 8 models which use it. Morgan is expected to launch a more frugal but sportier replacement at this spring’s Geneva Motor Show.
Aston Martin Holdings (UK) Ltd, the designer and manufacturer of luxury handcrafted sports cars, today reported a record full-year financial performance driven by continued strong demand for the DB11 and special models. For the 12 months to 31 December 2017, the Group delivered its highest-ever revenues of £876m, up 48% versus the prior year. Adjusted EBITDA more than doubled to £207m, while pre-tax profit rose by a quarter of a billion pounds to £87m, reversing a pre-tax loss of £163m in 2016.
Morgan Motor Company has announced record profitability and growth as it continues to roll out a long-term strategic plan under the guidance of Chairman Dominic Riley, Managing Director Steve Morris, and family shareholders – keeping up the positive momentum in the family-owned business. Year-end financial reports released today announced record growth from the 109-year-old company with a 19 percent increase in revenue against 2016 to £36m, improved group margins with an increase of 12 percent, a 13 percent increase in group net assets and an increase in pre-tax profits to £2m. Last year saw strong performances from all sectors of the Morgan business, including a new technological partnership with Frazer Nash for EV development, futureproofing with long-lead new model planning and strategic in-house appointments within the management team coupled with increased marketing activity.
Aston Martin Holdings (UK) Ltd, the producer of luxury handcrafted sports cars, today announced that it sold 5,117 sports cars last year amid sell-out demand for its DB11 model and special vehicles including the Vanquish Zagato and Aston Martin Vantage GT8. Retail sales, which saw a 58% year-on-year increase, outpaced wholesale supply (up 38%) and the Group now expects to exceed its previous full-year guidance of adjusted EBITDA of at least £180 million on revenues of more than £840 million.
Jaguar Land Rover Automotive plc reported a global 38% increase in second-quarter pre-tax profits to £385 million in the three months to September 30, 2017. Revenues were up 11.5% to £6.3 billion with an increase in margin (EBIT) of 1% to 5.2%. Higher sales and profits reflect the continuing ramp-up of new models such as the Range Rover Velar, Land Rover Discovery, Jaguar XF Sportbrake, Jaguar F-PACE and, in China, the Jaguar XFL. Retail sales grew 5.1% to 149,690, with increases in China (27.4%) and the US (5.1%) offsetting lower sales in the UK and Europe.
British sports car and supercar manufacturer, McLaren Automotive, today announces yet another record-breaking year in respect of vehicle sales, profitability, and financial performance. Profit before tax of £9.2M from an annual sales revenue of £649.8M in 2016 gave McLaren Automotive a fourth consecutive year of profitability in only six years, since the start of sales in 2011. This was an increase in profitability before tax of 70% compared to the £5.4M reported in 2015.