£300,000 investment drive by Aston Martin’s senior management

Dr Andy Palmer

Aston Martin Lagonda’s senior management has sought to reassure investors about the company’s direction of travel with a £300,000 share purchase.

The manufacturer has had a torrid first year on the stock market since its highly-anticipated float last October.

Its share price more than halved from 1800p launch, wiping £2bn off the company’s value in its first 200 days as a public company.

Chief executive Andy Palmer invested £200,000 and chief financial officer Mark Wilson and chair Penelope Hughes both spent nearly £50,000 on Aston Martin shares, priced at 876p.

The market has responded positively, with the shares up 3%.

Last month Aston Martin revealed it lost more than £1m a week in the first quarter of the year. Pre-tax losses of £17.3m were a £20m reversal on a year earlier.

However the Gaydon-based company remains optimistic and is expecting an increase of at least 10% in the number of cars sold in 2019, which it achieved in the first quarter.

For the whole of 2019, it has previously guided an adjusted EBITDA margin of 24%. The first quarter achieved 14%.

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