Tough times at luxury carmaker Aston Martin (LON:AML).
Shares of the venerable British automaker hit a record low on Thursday after the company said its losses grew last year and its Chief Financial Officer is departing by the end of April.
Aston Martin, famed for being fictional agent James Bond’s car of choice, posted a pre-tax loss of 104 million pounds ($135 million U.S.) last year compared with 68 million pounds in 2018 following a 9% decline in sales to dealers.
Aston Martin is in the midst of restructuring after announcing last month that a consortium led by Canadian billionaire Lawrence Stroll would buy up to 20% of the company and existing shareholders would inject more cash into the company.
Shares of Aston Martin, which were first listed in October 2018, have been on a steady down slide ever since and hit a record low of 328 pence following the announcements on Thursday. Aston Martin shares are now more than 80% lower than their initial public offering price.
The company said Chief Finance Officer Mark Wilson will step down from his role no later than April 30, but emphasized that he had not been fired.
Aston Martin shares tumbled 52.80 pounds, or 13.5%, to 338.20 pounds.
