Home Money MARKET REPORT: Aston Martin makes rapid progress as supercar sales rise

MARKET REPORT: Aston Martin makes rapid progress as supercar sales rise

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Aston Martin said it is in a

Aston Martin continued to thrive because the company capitalized on wealthy buyers who bought supercars.

The James Bond carmaker delivered 118 of its “special” models in the first half of the year.

This figure is up sharply from last year’s 38 thanks to sales of the Valkyrie and Valour supercars, which pushed the average selling price up 29% to £274,000.

Losses hit £216.7m in the six months to the end of June, up from £142.2m, but the group said it was entering the second half of 2024 “on track” to meet its plans.

Aston Martin said it is at a “crucial moment” in its recovery programme

Aston Martin said it is at a “pivotal moment” in its turnaround programme, having launched a new version of its iconic Vanquish sports car and selling the DB12 until 2025.

President Lawrence Stroll said: “Our high-performance products and ultra-luxury brand positioning strategies are creating strong demand among a new audience and existing loyal customers.”

Aston Martin also said Adrian Hallmark will start as chief executive on September 1. Shares gained 6.5%, or 9.7p, to 159.7p.

The FTSE 100 fell 0.17%, or 13.68 points, to 8,153.69 and the FTSE 250 lost 0.67%, or 140.65 points, to 20,950.84 as the latest rout in US technology stocks took its toll.

Luxury stocks across Europe also fell after fashion giant LVMH reported weaker sales as shoppers tightened their belts. The company, which owns brands including Christian Dior,

Givenchy and Marc Jacobs said sales rose 1% to £17.6bn in the three months to the end of June. This was a smaller increase than in the first quarter and below the 3% rise expected by analysts.

Sales in Asia fell 14%, another sign that Chinese demand is slowing. Shares in LVMH fell 4.7%, those of Gucci owner Kering fell 4.5% and those of Richemont, which owns the Cartier jeweller, fell 1.7%.

The European football championships helped LBG Media report a strong first half of operations.

The digital publisher, which is behind titles such as LADBIBLE, said sales rose 55% to £42.3m in the six months to the end of June. As a result of the Euros, LBG Media said it has gained opportunities to work with brands looking to reach younger adult audiences. Shares rose 7.7%, or 8.5p, to 118.5p. Pub chain Marston’s also benefited from the Euros, with like-for-like sales up 8% in the week of the semi-final and final matches.

And revenue rose 2.4% in the 16 weeks to July 20. Shares gained 2.5%, or 0.95p, to 39.1p.

Gold mining companies rose after positive updates.

Fresnillo maintained its annual production guidance despite heavy rain at one of its mines in the second quarter to the end of June. Shares in the Mexican exploration company rose 1.2%, or 7 pence, to 607 pence.

Hochschild Mining said it remains on track to meet its 2024 production guidance following a strong second quarter that included its new mine in Brazil producing gold in mid-May.

And gold prices averaged around $2,300 an ounce during the quarter. Shares rose 3.8%, or 6.8 pence, to 183.8 pence.

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