Aston Martin warns of steep fall in profit as volumes drop

Luxury British carmaker Aston Martin 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. ($1 = 0.7601 pounds)