August 18, 2022

BUSINESS LIVE: Aston Martin Lagonda losses slender; Rio Tinto plots Turquoise Hill takeover; Phoenix Group bounces again

Aston Martin Lagonda noticed working losses slender to £77million final yr from £323million in 2020, as revenues jumped 79 per cent to £1.1billion.

The agency stated efficiency was lifted by stronger buying and selling circumstances, an ‘enhanced luxurious buyer expertise and heightened model desirability’, which led to ‘vital development’ in the important thing markets of the Americas and China.

Rio Tinto has proposed to purchase the remaining 49 per cent stake of Canada’s Turquoise Hill it doesn’t already personal for about $2.7billion.

The transfer comes because the Anglo-Australian miner appears to be like to ramp up the Oyu Tolgoi copper-gold mining venture in Mongolia.

British insurer Phoenix Group has revealed money era for the yr was better-than-expected, helped by rising demand for its pension insurance coverage insurance policies.

The corporate, like different insurers, recovered floor throughout the board final yr after being hit by a pandemic-fuelled droop in enterprise in 2020.

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Government chairman Lawrence Stroll hailed a ‘landmark yr’ in reaching Aston Martin Lagonda’s purpose of changing into ‘one of many biggest ultra-luxury manufacturers on this planet’

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