NewzAston Martin announced a deal for fresh loans worth £550 million. (Reuters pic)LONDON: British carmaker Aston Martin Lagonda said Wednesday that the group's net losses deepened in the second quarter (Q2) as higher debt costs offset increased revenue.The loss after tax increased by almost one third to £90.1 million (US$120 million) in the April-June period compared with Q2 2025, Aston Martin said in a statement.Revenue jumped 62% to £358.2 million.The British brand beloved by fictional British spy James Bond sold 1,392 cars in the quarter, up 43% year-on-year.The results show "we are on track to deliver material financial improvement this year", Aston Martin chief executive Adrian Hallmark said in the earnings statement.Aston Martin last week announced it had struck a deal for fresh loans worth £550 million.The new debt financing "significantly strengthens our liquidity, providing us with both additional resilience and further flexibility to execute our current and future product plans", Hallmark added Wednesday.Aston Martin's net debt rose 12% to £1.54 billion in Q2, while financing costs surged.The group, which has also been hit by US tariffs and weak Chinese demand, revealed in February plans to cut 20% of its workforce to help trim costs.Aston Martin will employ around 2,400 mostly-UK staff following the cuts expected by the end of 2026.
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