StockMarketWire.com - Aston Martin said it expected full-year sales at the top end of guidance after reporting Thursday profits swelled in the third quarter bolstered by strong sales growth in China and the UK.

For the full year 2018, the company said it expected to achieve sales at the top end of its stated range of 6,200 - 6,400 units, and affirmed its outlook for adjusted earnings (EBITDA) margin of 23% and adjusted EBIT margin of 13%.

For the three months to September 30, profit before tax rose to £3.1m from £0.3m a year earlier and revenue rose by 81% to £282m.

Adjusted earnings (EBITDA) jumped 93% to £54m, driven primarily by higher volumes and increased contribution from market mix, the company said.

In China, sales more than doubled amid strong demand for DB11 derivatives and the new Vantage, while unit sales in the UK, the company's home market, increased 66%, offsetting lower volume growth and some softness in the Europe Middle East and Africa (EMEA).

The average selling price per vehicle was £136,000 in the quarter, down 7% from a year earlier, owing to a planned shift in volumes to the Vantage and V8-engined DB11 derivatives, Aston Martin said.

'Aston Martin Lagonda has marked its first reporting-period as a listed company by delivering a sharp increase in unit sales, in profits and revenues. These strong results give us confidence that we will meet our full-year targets with sales at the top end of the range,' said Dr Andy Palmer, Aston Martin Lagonda President and Group CEO.

'This will pave the way for future growth as we prepare to begin production of the breakthrough DBX model at our new plant at St Athan, and as we receive further orders for new models including the DBS Superleggera and special editions.'


At 8:40am: [LON:AML] Aston Martin Lagonda share price was -62.5p at 1549.3p



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