FILE PHOTO: An Aston Martin logo is pictured at the new factory in Saint Athan, Wales, Britain December 6, 2019. REUTERS/Rebecca Naden/File Photo
(Reuters) – Luxury British carmaker Aston Martin (AML.L) on Tuesday warned its annual core profit would be significantly lower than last year, as weak demand in Europe led to a 7% drop in wholesale volumes.
The company said it expects 2019 adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of between 130 million pounds and 140 million pounds, compared with 247.3 million pounds ($325.37 million) a year earlier.
Reporting by Shashwat Awasthi in Bengaluru; Editing by Saumyadeb Chakrabarty
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