Aston Martin posts smaller-than-expected annual loss By Reuters

(Reuters) – British luxury carmaker Aston Martin said on Wednesday it was on track to hit its 40% gross profit margin target this year, after annual losses narrowed more than market expectations on higher prices.

The company reported an adjusted pretax loss of 171.8 million pounds ($217.36 million) for the year ended Dec. 31, compared with 451 million pounds a year earlier.

Analysts, on average, were expecting an adjusted pre-tax loss of 209 million pounds, according to a company-compiled consensus.

($1 = 0.7904 pounds)